Company Blog

Oct 09

Why our new auction format isn’t more competitive

Posted by Matt Carney under News, Site Features


We’ve noticed on social media and in calls and emails to Customer Support that some of you are concerned that our new auction format increases the level of competition in QuiBids auctions, or that they’re more difficult to win.

That isn’t the case. The level of competition on QuiBids auctions is most directly affected by the number of auctions scheduled and the number of customers on the site, all at a given time. In this case, the auctions are the supply and customers are the demand. If auctions got to be too competitive and people stopped winning as frequently, we’d probably lose a lot of customers, and no business wants that! If it’s the case that people start bidding more in auctions, that more people bid on auctions, or both, then we’ll pump out more auctions to meet the demand.

The new format (which we explained earlier this week at great depth) creates a win-win situation that will allow us to host more auctions for you! With the old auction model many customers weren’t seeing what they wanted when they came to QuiBids. Sure, there’d be an iPad here or a camera there, but the auctions came and went quickly, so customers would often say “No thanks. I didn’t find anything that I wanted,” and would leave the site without bidding.

Being a retail company, that made us sad. We want everybody to find something that they want every time they come to QuiBids because —like any long-term, sustainable business— we want our customers to keep shopping with us consistently. So we came up with this new format as a way to offer more products so that you’ll hopefully find something you want every time you stop in. It’s a win-win.

Lastly, we want to strongly dissuade our customers from any notion that our new auction model is some sort of fly-by-night cash grab. We’ve worked hard to build on this company since 2009 and are in the entertainment auction business for the long haul — and believe us, it’s a fun business to be in! The new QuiBids auction is going to help us push into the next thirty years of business, not hoodwink you for a quick buck. Moving forward, we’re excited to see more auctions and, most importantly, more wins!

We want to gauge how you guys feel about QuiBids’ new auction format. Vote in the poll below and tell us what you think by tweeting the link to this post (via the Tweet button below) and we’ll pick two QuiBidders to give 25 Free Bids each!

Also, if you feel like your opinion isn’t accurately summarized by the poll, feel free to leave a comment at the bottom of this blog post. And as always, happy bidding!