Is Quibids a scam?

First I would like to start this topic by saying how I gotto know this website, as a young Persian immigrant, always I am looking forways to get a head on this new internet age. One day I was searching for aproduct called iRobot which is an automatic vacum cleaner and I search Googlefor a phrase that I don’t recall now, and I stumbled on Quibids, because this website which is a penny auction website was selling iRobot.

So now let’s talk how penny auctions works in general. In Quibids you buy one bid for 60 cents and each bid raises the price of the product by one cent. So far simple, right?

So how Quibids make money?

Let’s take an example

A Heritage 150CC Gas Scooter which is a type of scooter and it’s valued at $1,579.99 is getting sold in average for 140 dollars, Now if you calucate how many bids was used to raise the price to 140 dollars it would be 140*100=14000 bids and since each bid costs 60
cents then the users of websites all together paid 14000*0.6=$8400 that mean the owner/owners of the website received 8400-1579.99=6820.01 total profit. So as you can see it’s true that winner of the auction got a very good deal but the rest of the users lost their moneny and the company made a huge profit.

So is Quibids for everyone?

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What is my suggestion to anyone?

Set a budget for yourself, don’t think if you have already lost your bids and if you buy some more bids you may win, set a budget and don’t go over that budget.

What is the address to Quibids?

It’s www.quibids.com , if you find address like http://qb.cm/r8164816
on the internet , this is because the writer wanted to get commission from your purchase in other words if you click on this link and buy a pack of bids in this example I get 25 bids.