QuiBids is Going Global Bringing More Items and Bidders

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Beginning this Tuesday, April 24th, 2012, the United States’ largest penny auction site, QuiBids.com is going global.

This doesn’t mean that they’re expanding to other countries beyond the US, Canada and Australia just yet.

What they mean by “going global” is that they will be “pooling markets together,” so QuiBids bidders in the US will be bidding  against bidders in other countries (just Australia and Canada for now), but thanks to this change QuiBids will be adding more items.

QuiBids isn’t the first penny auction to go global, BidRivals does this as has Swoopo. Swoopo was the very first penny auction site in the world, (now gone – they filed bankruptcy).

QuiBids Plans to Expand

QuiBids posted in their blog that they have hopes to expand to Spain, Germany and the United Kingdom, but in the meantime by adding global auctions, QuiBids has stated that they will now be able to offer even more products.

Not all items will be Global Auctions. QuiBids will indicate whether or not an item is a Global Auction with a little planet Earth icon, you’ll also be able to see where your bidding competition is bidding from by hovering your cursor over their username in the bidding history panel.

Facts about QuiBids’ Global Auctions from QuiBids 101: 

“1. Participating in Global Auctions is totally optional. Just because we’re introducing Global Auctions doesn’t mean that every QuiBids auction will suddenly be open to customers from every country. So feel free to stick to domestic auctions if you like!

2. Global Auctions will be clearly indicated. We’ve drawn up a nifty little icon of planet Earth that will appear with every Global Auction, so you’ll always be able to see whether or not you’ll be bidding against people in Canada, Australia, or wherever. Also, you’ll be able to see where a bidder is from by hovering your cursor over their name in an auction’s bidding history.

3. In Global Auctions, the playing field is equal between countries. One of the complications of setting up an auction between users in different countries — say for example, the United States and Australia — is the exchange rate. One US dollar (USD) is currently worth just a little bit more than one Australian dollar (AUD), about $1.04 AUD, to be precise. We’ve installed two measures to account for this.

First, we may offer similar but distinct prizes in different countries (e.g. a $10 Walmart gift card in the US may read as a $9.65 Amazon gift card in Australia). Read fact #4 below for more on this.

Second, users in different countries will see different but equivalent amounts of money, based on which currency they’re using. Being a U.S. company, QuiBids’ system operates on the USD, so any bid cast in a Global Auction by a user from outside the U.S. will be converted to USD and registered within our system.

4. In Global Auctions, the same prize isn’t always offered in every country. Because some of our vendors don’t distribute worldwide, some auctions will appear as equivalent but distinct items across markets, per the earlier example. Because, really, what good is a Walmart gift card to a person whose home country doesn’t even have a Walmart?”

What do you think about QuiBids “going global?” Do you like that there will be more items at perhaps the price of more competition? 

Come on over and discuss this in our QuiBids Discussion Forum.

NOTE: I do not have any affiliation with Quibids, I do not receive compensation from them in any way by posting this article. I am not a QuiBids affiliate. I have not had a bidding account on QuiBids.com for a few months now. I just thought that readers might be interested in this information. Bid at your own risk and do research before you try any penny auction site. 

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