QuiBids.com is an American online retailer based in Oklahoma City, Oklahoma, USA. This is a retail website that works like an auction fee auction, also known as a penny auction. QuiBids has officially rebranded itself as an entertainment retail auction site, selling products such as consumer electronics, home and garden products, clothing and jewelry. The okcBIZ website named QuiBids the third best small business to work for in Oklahoma.
At Penny auctions, you pay for every item you bid on, regardless of whether you win the auction or not. After the auction starts, the price of the item starts from zero or the buyer can set the start price which is usually very low, much less than the actual selling price of the product. Each offer raises the price by a penny and resets the countdown. When the time is up, the last game is the highest bid. Here, unlike standard auction bidders can't set the bidding amount.
It's important to understand that auction sites don't make money by selling items at low prices. They make money by selling bid packages. When you participate in an auction, you have to purchase a bid package.
Each time you bid, the number of bids decreases. Each auction is configured for a specific time period. In some cases, however, a new bid may add a few extra seconds to the auction. This means that it is impossible to know exactly when the auction will end.
With thousands of bidders and no idea when the auction will end, their chances of winning anything are slim. But you still pay for every offer. And this is where website owners make their money. It is not uncommon for hundreds of people to hold thousands of auctions before the end of the auction.
If you lose an auction, some auction sites will offer you the option to purchase "retail" products for less than the auction price. In most cases, items purchased from the auction page are marked.
So, to sum up, penny auctions, also known as bid-based auctions or live auctions are auctions in which each participant must pay an auction fee for each incremental bid. Each auction starts with a small reserve price and a countdown timer. Each new auction raises the current price by a small, fixed amount and resets the timer.
A penny auction site is a new type of online auction website where instead of simply paying the winning bid for an item, each bidder also pays a fee to bid. The auction ends after a period of time, usually ten to twenty seconds. With no new bids, the last participant to bid wins the item and also pays the final bid price which can be significantly lower compared to the retail price of the item. The auctioneer makes money in two ways, with the fees collected from each auction and the payment of the winning bid which generally add up to much more than the value of the item. These auctions usually take place over the Internet, rather than in person.
Ez Quibids Clone Script Pro is a multilingual and multi vendor penny auction software developed in PHP/ MySQL. Launch your own penny auction portal quickly and easily with this feature enriched penny auction script. The users are able to manage their operations via mobile devices. It comes integrated with a fully tested and functional bot user feature, a concept of automatically placing bids if the existing bid is less than the reserve price. This feature may prove helpful for startups against incurring losses. PayPal is integrated as the default option for the user to buy bids and pay for the winning items. It comes with a powerful admin panel by which you can manage the users and control website settings. All transactions can be monitored on the admin panel. Cost per bid can be specified on the admin panel so that users can order bid packages. Sellers can post withdrawal requests to the admin for their account balance. It comes with different versions such as English, French, German, Spanish and Portuguese. No programming knowledge is required. We provide full technical support and free installation assistance. We also provide Free Hosting service with SSL Certificate.
Ez Quibids Clone Script Pro is an online Penny Auction Script, user friendly and thoroughly customizable to meet user requirements. Developed with the latest PHP version of 7.2 with responsive front-end and Admin panel, the script has turned out to be a users' delight. Feature-rich functionalities of the script, together with integrated Bot user options, make Ez Quibids Clone Script Pro what a true online Penny Auction script is supposed to be like.
With an eye to constant upgradation of our products under a dynamic work culture, the product features-list gets updated as an ongoing process reflecting the latest inclusions /exclusions. The buyers may please bear in mind that product-features available on the date of purchase only shall be valid. Any claims/demands by the buyer on a later date for features with reference to any features-list prior to the date of purchase, or updated after the date of purchase shall not be entertained.
Once you try the demo we know you’ll love it. Please contact our support team for an enhanced, fully customized version, tailor-made to your requirements. Do you know how it works?
https://quibids-clone-pro.itechscripts.com
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https://quibids-clone-pro.itechscripts.com/mobile
https://quibids-clone-pro.itechscripts.com/admin
https://www.itechscripts.com/pdf/quibids-clone-pro
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We are super excited to share the features included in the latest release. Once you try the demo we know you'll love it. There will be even more features available in the future.
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