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QuiBids.com is an American online retailer headquartered in Oklahoma City, Oklahoma, United States. It is a retail website that operates as a bidding fee auction , also known as a penny auction. The company has been sued under allegations that it is a form of illegal gambling and that its advertising is misleading.
Each of the bids increases the price of the item by a small amount, such as one penny (0.01 USD, 1¢, or 0.01 GBP, 1p; hence the name of the auction), and extends the time of the auction by a few seconds. Bid prices vary by site and quantity purchased at a time, but generally cost 10–150 times the price of the bidding increment.
Auction sniping (also called bid sniping) is the practice, in a timed online auction, of placing a bid likely to exceed the current highest bid (which may be hidden) as late as possible—usually seconds before the end of the auction—giving other bidders no time to outbid the sniper.
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DealDash is a bidding fee auction website. It was founded in 2009, and is headquartered in Minneapolis, Minnesota, United States. [1] [2] [3]Users buy "bids", which are credits priced at 13 cents each, which increase the listed price of the item by 1 cent.
A maximum bid value is usually set at a much lower level than the actual value of the lot. In a lowest unique bid auction, the bid that is the lowest and unmatched when the auction closes is the winning bid. Unique bid auctions will typically allow bids to be very precise, in that each bid can be specific to the 'penny'.
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