Beware Quibids...



Beware Quibids...

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.

Beware Quibids!


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