- kaleokahu Jan 27, 2014 11:44 AM
Just a word to the wise.
There's this new "auction" site on the ascendant called Quibids, seemingly with new ideas and low prices on a variety of new items, including cookware. The idea is somewhat intriguing: Bidders are charged $0.60 *per bid*, bids are only possible during the final 5 minutes of the "auction", and each bid extends the close of the auction by a short interval. Supposedly, even if you "lose", you can still buy the item (because they have a stock of each item) at a "discounted" price minus your original bid charges. You can also pre-program bids, sort of an in-house auction sniper feature.
You "join" by creating a profile and storing your credit card info. What they DON'T convey clearly is that there is an immediate $60 charge to your card, effectively pre-paying 100 bids!
Upon getting an email to the effect that I'd already been charged $60, I canceled and demanded my money back. They fought me until I threatened a Federal Trade Commission complaint, and then grudgingly issued me a refund.
Their ads have been around for awhile. Huge TVs for a few bucks, etc. Now way that is legit. Thanks for explaining how/who is making money. Just for rants, I hate ebay/paypal. Everytime, I select paypal, not bill me later. Then it switches me to bill me later. One can switch back, but they are so mean to do that. I hate them for that, and use ebay much less than I used to.