So I was bored at home today and I saw a Quibiz commercial, I got to thinking about how cheap stuff sells for on that website. So the amount starts at 0 and goes up a penny for every bid. Every bid get charged $.60 for that bid. Think how much money the webiste makes. Canon EOS Rebel T3i 18.0-megapixel DSLR sells at best buy for 699.99 and sold for about $30. What a deal. Now that website got 3,000 bids on that camera, and they make $.60 per bid, so that ended up making $1800 off a $700 camera. Lets say there are 1 million bids a day on Quibiz. So every day the website makes $600,000 a day. That is insane. Even if they are buying stuff at retail value they can still make a crazy profit. They even sell free bids that will go for more than the $.60 per bid for the X many bids. The inventor of this website is a genius. He is on his private island laughing at all the money he is making.
» Source: http://www.quibids.com/en/
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