Company Blog



Aug 22

How to use Buy Now to your advantage

Posted by Matt Carney under Site Features, Tips & Strategy

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If there’s one thing you learn by reading this blog post, then make it this vital QuiBids fact:

If you go into a QuiBids auction expecting to pay the Buy Now price, you’re much more likely to win it!

We realize that this message may have left a few of you wondering aloud questions like “What is Buy Now?” or “What’s this business about QuiBids giving me the information I need to know right at the top of the blog post while providing very little context?” Well the latter we thought would be more convenient to our savvier users and the former we’ll answer below.

What is QuiBids’ Buy Now feature?

The Buy Now feature allows you to purchase a QuiBids product at the price listed, less the money you spent bidding on the product. You may choose to do this any time during the auction (so long as you’ve placed a bid) and up to two hours after the auction is over. It’s as simple as clicking Buy Now button at the bottom of the auction page. Here’s what it looks like on the auction page:

Note the blue Buy Now button at the bottom. Also note where it says Buy Now Price. That gets tabulated for you and updated in real time as the auction progresses.

Here’s a mathematical example of the Buy Now formula:

Product Buy Now price:                                                                                      $100.00
Discount Real Bids* placed x bid price: 100 Real Bids x $0.60 =                  —   $60.00
Buy Now price:                                                                                                     $40.00**

*Recall that Voucher Bids, unlike Real Bids, don’t count toward a Buy Now.

**Don’t forget to factor in shipping!

Why is all this so important to you? Mainly for the reason listed above: If you enter a QuiBids auction with the willingness to pay for the item at the Buy Now price, you are significantly more likely to win the auction. Here are three reasons why this is true:

1. You’ll bid more.

The more bids you place, the more likely you are to win an auction. Obviously there’s an art to timing your bid, but bidding by volume is a fine strategy too, especially if you’re looking to make a statement to other customers (more on that later). And if you’re willing to pay Buy Now price, then simply winning the auction means you’ll get a discount, so long as you don’t bid through our notifications that you’ve spent the price trying to win it. The worst-case scenario here is that you have to purchase a brand-new retail item at the same price as a lot of other online retailers.

2. You’ll bid with more confidence.

Knowing that you’ve got the cash in pocket to pay for an item outright is an enormous advantage going into an auction where other customers are trying to snipe a steal. You’ll be able to bid longer and more consistently, thereby massively improving your chances against customers looking for a quick, easy win.

3. You’ll develop a reputation as a serious bidder.

Win enough auctions by bidding often and confidently, and people will start thinking twice about bidding when they recognize your username showing up in an auction. That translates to more wins!

That’s all we’ve got for now, but if you’re looking for more information about Buy Now, you should consult the QuiBids Help section. Oooh, and before you go, be sure to tell us how you feel about using Buy Now by filling out our flash poll below! And you might even consider telling us about your experiences incorporating Buy Now into your QuiBids strategy in the comments too.

And as always, happy bidding!

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