QuiBids.com is an online entertainment retail auction website that launched in October of 2009. Its mission is to redefine shopping by providing the best deals possible for its customers with a unique, fun and exciting online shopping experience. It auctions off HDTVs, MacBooks, smart phones, gaming consoles, digital cameras, a variety of gift cards to many popular stores, various kitchen appliances, and much more.
QuiBids operates on a pay-to-participate business model. Each bid costs just $0.60 and are available in what are known as Bid Packs.
QuiBids allows time for everyone to have the option to think about whether he/she wants to bid on an item. It uses 20 second/15 second/10 second progressions; this is essentially the internet auction equivalent of going once, going twice, sold! All auctions start off and as they gain more attention and bids, the timer increment goes down to 15 and then finally 10 seconds. If a user does not win an auction, he/she can choose to utilize the Buy Now option, which is where the user can purchase the item at retail minus the cost of bids placed in that particular auction.
QuiBids is available in eight markets: United States, Canada, Australia, United Kingdom, France, Germany, Italy, Austria, and Spain. It prides itself in being the beacon of moral and ethical business practices in its industry and defines success through the creation of long-term, mutually beneficial relationships with its customers.