Buy It Now Auctions
The buy it now option is a choice that the vast majority of penny auction bidders do not use. According to one survey, this money saving feature is only used rarely. Basically, this option allows you to purchase the item that you were bidding upon even if you lose. Rather than paying for the winning price of the item, however, you will be paying the full price of the product minus whatever money you spent on purchasing the bids used by the losing bidders.
If you are going to be bidding many times for an item at Quibids, this can be a great way to save money. You will still be paying out of pocket for the item, but if you spent $100 on bids only to lose the auction, that $100 will go forward as a credit on the actual retail price of the item. So if you are looking to buy an iPad and you spent $100 on bids only to lose the auction, you would have the opportunity to buy the iPad after all—your $100 in bids will be knocked off the retail price of the product.
This option is best for those that are bidding upon items for personal use. If you are simply trying to win items to turn around and sell them at a profit, the buy it now feature will not benefit you. But if you truly want the product and you end up losing the auction, the buy it now option will help you to put your losing money to good use.
