Peripheral Visions

a blog from SuppliesGuys™ -- Good Guys. Great Buys.

New HP Printers from Under One Dollar

Yes, you read that headline correctly. Thanks to QuiBids.com, you can now purchase a printer for less than a buck.* What’s the catch you ask?  The only catch is that in order to score a cheap printer or other severely discounted high ticket item you will need to outlast your fellow bidders, and be the highest bidder when time runs out. Sound simple? The interesting part of Quibids, is that no one really knows when each auction will end. It’s survival of the fittest (or survival of the most caffeinated).

By definition, QuiBids is an online auction where members pre-purchase bid packages and bid on their favorite items. Each bid equals .60¢ and every time an item receives a new bid, the price of that item increases by anywhere from .01¢ and .20¢. Plus a maximum of twenty seconds is added to the auction with every bid (to give time for your fellow bidders to respond).  This is the opposite of eBay where a bidder with an awesome internet connection can swoop in with a few seconds to go and steal the auction. At QuiBids, the auctions really start to get interesting when there is less than a minute to go.  In order to win, bidders really need to commit to the auction in order to outlast the competition. Fortunately you can set automatic bidding to run for a few minutes in case you need to use the restroom or grab an energy drink, as some of these ending auctions can last up to several hours.

Sound fun? Sound addicting? It could be a little bit of both but you won’t know until you try. How much can you save? The site claims up to 90% off retail and we believe it. We’ll run through a quick example to demonstrate the savings.

Let’s say you purchase the middle package on QuiBids and receive 80 bids for $45. Then you begin bidding on the HP Photosmart printer valued on their website for $67.10 (already at a slight discount). Let’s say you get lucky and there isn’t much interest in this product (perhaps an iPad or 50″ flat screen TV auction is simultaneously winding down), and you are able to win with just 15 bids. Well you’ve just spent $9 (60¢ x 15 bids) to win that HP printer. All you need to do is pay for shipping and you’ve saved around 70%, not bad. Let’s say however, that you lose the auction. Well you still have the opportunity to “Buy it Now,” so that you can recoup your bid investment. You just need to pay the difference between your bid amount and the product’s value on QuiBids. Our advice to you, only bid on products that you would justify paying full price for so that you aren’t wasting any money.

Now, I suggest that if QuiBids does sound like your cup of tea, make sure to check out their FAQ & QuiBids 101 section prior to placing your first bid or even purchasing your package. Also stay away from the big ticket items, unless you are prepared to lose and willing to pay for the product at a slight discount or you have a ton of time (at least 12 hours) to commit to the auction. Take advantage of the “watch this item” feature and automated bids, and always do your homework on the product you are bidding on! Our advice is to go after the gift cards, you can quickly and easily win gift cards valued at $100 or even $200 for a few bucks and in fair less time. If you do happen to win the Photosmart printer, remember to come back to The Supplies Guys as we have the lowest prices on HP printer supplies :)

What do you think? Would you ever try out QuiBids.com?

Categories: News

 

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