Company Blog



Oct 04

More products, more wins: QuiBids’ new auction format

Posted by Matt Carney under News, Site Features

ycidominant

You said you wanted a wider selection of products, so — here it is!

The new auction format now comprises 100% of QuiBids auctions for tangible products (we’re still tinkering with Limit Buster and Voucher Bid auctions at the moment), which means that our customers now have unprecedented access to bid on and purchase products. That’s more choices, more convenience, and more fun!

Let’s cut to the chase. As a customer, you want to know specifically how the new format works, how it can directly benefit you, and how to take advantage of them. We’ll get to all that in today’s blog post, starting with the all-important question:

How does it work?

Here’s the gist: Just like our old auction model, you’re still just bidding on one auction, one product. But now that one product is left up to you!

The new model’s been live on the site for a few weeks, so you’ve probably run into a few of them by now. If you’ve yet to figure them out completely, here’s a handy guide to how they function.

You’ll start by noticing the arrows on either side of the product images when you visit the home page. You can click on these arrows and the product image and title will cycle through several different products.

However, if you click through and visit the actual auction page, you’ll encounter this banner:

and this layout on the auction page:

 

See that panel up top with six different auctions listed? Those are the six items you get to choose from if you win the auction. But it gets even better. See up in the top right corner where it says “Browse 32 Auction Choices”? That means that there are 26 more products to choose from. Click on that link and it’ll take you to the Product Browser, where you can see all the items organized by category:

There isn’t a limit on the number of times you can change the product you’re bidding on.In fact, you don’t even have to specify which product you want delivered until after the auction is over. Though you do have seven days to check out and pay for an item on QuiBids, we strongly recommend completing the purchase immediately after winning the auction because of the possibility that the item you want could run out of stock before you check out.

If that happens, you can still choose a different item or contact our hardworking Customer Support team to see if it’s possible to wait for us to re-stock the particular product.

How do I finalize and pay for what I won in the new auction?

Let’s say you win one of our new auctions (Congratulations, hypothetically speaking!) and want to purchase the item immediately. Here’s the message you’ll see:

Let’s also say that you don’t want to claim that $10 Shell gas gift card, that instead you’d rather have a $10 Walmart gift card you saw in the product browser. See up there where it says “You Choose It: Update Selection?” Simply click that link to select the Walmart card and proceed to checkout. If you do wind up on the checkout page by accident, don’t fret. You can simply click on the auction link on the page to backtrack and change the product.

Have more questions about the new format? Consult our FAQ section, but if your answer’s not there then feel free to contact QuiBids Customer Support. They’re friendly and always ready to help!

Why is the new auction better for you?

The common refrain from the many customer polls and focus groups we’ve conducted since founding QuiBids in 2009 is that we needed to offer more unique products. With the new format, we’re not only able to offer a broader range of stuff to choose from, but customers are able to bid on them at greater convenience to themselves. No more staying up until 11 p.m. to try to win that specific item you want; now we could offer it in a dozen different auctions a day.

In the past we couldn’t carry certain products because the customer demand for them simply wasn’t great enough. But by listing a few dozen potential products together in a single auction, we can offer highly specific products that otherwise wouldn’t have ever been available to win, and we can offer them much more often than we did in the past.

If “Offering more products” is the biggest benefit of the new auction for customers, then the amplification of the Buy Now proposition is a close second. You can now bid with greater security knowing that your Buy Now will cover exactly the product you want.

 

Why did QuiBids do away with auctions for single items completely?

We appreciate the people who’ve emailed and tweeted this question to us at QuiBids’ Twitter account! Observant QuiBidders may have noticed that we introduced the new auctions steadily over the last few weeks, eventually replacing the old single-item format until the new format comprised 100% of our auctions for tangible products.

We chose to discontinue single-item auctions (with the exceptions of Voucher Bid and Limit Buster auctions) simply because once we introduced the new format, customer participation in single-item auctions dropped off significantly. Which makes a lot of sense! We can’t host auctions if people aren’t bidding on them, so doing away with single-item auctions will simply allow us to host more auctions in the new format.

How do I take advantage of the new auction?

Before we start answering this question, it’s important to take a minute to remember that —while the way you choose your desired product has changed— the new auctions work exactly like the single-item auctions before them. The same strategies you used in the past are just as valid now as they were when QuiBids started. Using the Bid-O-Matic effectively, studying your competition, distinguishing between Real Bids and Voucher Bids, and, at times, bidding aggressively so as to intimidate will all continue to serve you well.

Like all of our auctions, the new format will inherently reward more dedicated bidders. We distinguished ourselves from the hundreds of other penny auction websites when we debuted in 2009 because we offered a Buy Now option as a form of bidding insurance on every product we sold. That feature rewards those who are willing to go the distance and bid heavily for a product, and as long as your bids are backed up by the Buy Now, there’s no reason not to go hard!

And now that that same Buy Now option covers multiple products in a single auction, our proposition to customers is only getting sweeter. Let’s say the main product that draws you into a specific auction is an unnecessary but extremely enticing prize; a luxury good, like an iPad or an espresso machine. With the power of Buy Now, you can bid on it with more confidence knowing that if you do have to spend the listed price, you can select something more necessary or functional, like a mattress or a laptop computer, should you find yourself with a minor case of “Chooser’s Remorse.”

So in short, the best way to take advantage of the new format is just the same as it was before! It’s not like the actual “Bid…watch the clock reset…wait for somebody else to bid and then bid again…” part of the model has changed, so your tried and true strategies are all still going to work just as well —if not better— than with the previous auction model. Become a more dedicated bidder and you’re much more likely to experience QuiBids success!

Have you won your first new auction yet? Tell us what you think about them in the comment section below.