Jump to content

Qwikbids.co.za - Any good?


Caerus
 Share

Recommended Posts

Has anyone one tried this Auction website out, they deal specifically in the auctioning off of new outdoor equipment .In the banner ad a Thule Euroride went for R50 and then a Garmin Edge for R40 or something stupid. It seems there has become an abundance of these types of Auction websites.

 

Are they for real? Has anyone ever got a great deal from these types of websites. How are they actually making money? :unsure:

Edited by Caerus
Link to comment
Share on other sites

They make tons of money and it is the money that the bidders lose

 

So its kind of like you pay R5( for example) everytime you make a bid irrespective of if you win the auction item. Are they worth doing?

Link to comment
Share on other sites

Yip but if the product was in the banner at that price they were probably just intending to do there indirect marketing and it worked cause you all shocked about it. quick tip for e-commerce sites at the top when entering or login or anything like that there is a lock at the top click on it and see if it a approved site , that will give you certitude that you dealing with legit people and also when people get ripped of they always make a point by telling as many people as possible so Google it and check out the forums.

 

adios

Link to comment
Share on other sites

They make money by selling those auction bids, nearer the end of the auction there is a giant rush were everybody bids.

They don't have auctions that often so they make their money back in the end.

Link to comment
Share on other sites

They make money by selling those auction bids, nearer the end of the auction there is a giant rush were everybody bids.

They don't have auctions that often so they make their money back in the end.

 

 

There seems to have been an explosion of these websites. Just trying to get my head around how it actually works. So basically you buy a bundle of credits for say R100, the each time you make a bid R5 comes off that bundle, irrespective of the bid being only 50c more. So a product could cost R200, after 100 bids it goes for R75. They make the money on the fact the item cost them R200, but made R5 multiplied by 100 bids, plus the R75 they get back from the sale of the item.

Link to comment
Share on other sites

There seems to have been an explosion of these websites. Just trying to get my head around how it actually works. So basically you buy a bundle of credits for say R100, the each time you make a bid R5 comes off that bundle, irrespective of the bid being only 50c more. So a product could cost R200, after 100 bids it goes for R75. They make the money on the fact the item cost them R200, but made R5 multiplied by 100 bids, plus the R75 they get back from the sale of the item.

I know one of them i've seen where you pay R75 for 100Credits, (ie 100bids)

From the one auction i was involved with with my free bids i struggled to see how they broke even at all.

I'm sure they also get money from advertising on their site.

Anyhow, profit margin must be tight.

Link to comment
Share on other sites

  • 3 weeks later...

Sorry, only saw this now. I watched one of those auctions close on Smokoo. It was for a new Nissan GT-R, can't remember the exact numbers but the car retails for something like R1.3m,each bid was R25 and the "purchase" price climbed with 1c with every bid. So for every R1 that the "purchase" price climbs, they made R2500. The car sold for about R670. If you do the math that means they got R1.675000 for it while retail is R1.3m,thats R300 000 profit.

 

I don't think I would consider that a tight profit margin.

 

http://www.za.smokoo.com/auctions/smokoo_nissan_skyline_gtr

Edited by Zaskar09
Link to comment
Share on other sites

Sorry, only saw this now. I watched one of those auctions close on Smokoo. It was for a new Nissan GT-R, can't remember the exact numbers but the car retails for something like R1.3m,each bid was R25 and the "purchase" price climbed with 1c with every bid. So for every R1 that the "purchase" price climbs, they made R2500. The car sold for about R670. If you do the math that means they got R1.675000 for it while retail is R1.3m,thats R300 000 profit.

 

I don't think I would consider that a tight profit margin.

 

http://www.za.smokoo.com/auctions/smokoo_nissan_skyline_gtr

 

But the different sites work differently.

Obviously the more expensive the item being auctioned the bigger the margins are.

The sites that i have seen have very few auctions for cheaper items, nothing usually exceeding R5000.

They also only charge R1 per bid.

Quite different systems.

Link to comment
Share on other sites

True, but I still think it's actually the same concept. Smokoo also has mostly small auctions (R5 bids) and about R5000 value and on those they don't make as much profit. But every now and again they throw in a big one and make up for all the smaller ones. They lure people by selling the small stuff at crazy prices and then nail them with the big ones. I think thats probably how most of them work.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

My Profile My Forum Content My Followed Content Forum Settings Ad Messages My Ads My Favourites My Saved Alerts My Pay Deals Settings Help Logout