Entertainment Retail Auctions

We’ve noticed a few interesting news reports in the last month or so that suggest online auctions are about to get “real.” As in, real estate-real. As in, people are auctioning off furnished homes on the Internet.

That’s right. An auction timer is currently counting down on a remodeled home in the Phoenix metro, owned by one Todd Talbot. It’s currently 32 days from shifting into the same timer-gets-reset-if-you-bid-with-20-seconds-left model that QuiBids currently employs. We’re watching this auction with a lot of curiosity because — as far as we know — it’s the first time anybody’s tried selling a home through an entertainment auction format before. Who knows what’ll happen?

We’ve done some pretty big items on QuiBids in the past, even a Honda Civic, but we’ve never sold anything valued at six digits (the home was appraised in 2010 as being worth over $127,000) before. Talbot’s installed a handful of rules around the auction, some of which are similar to QuiBids and some of which aren’t. Let’s have a quick look at what he’s set up.

Like QuiBids

• A bid costs 60 cents.
• The auction price increases by one cent every time somebody places a bid.
• You must create an account to participate.
• There are incentives for bidding. But they’re different from our Buy Now feature. See below.

Not like QuiBids

• The number of seats in this auction is limited to 1,000. As of when this was blog post went live, only 17 were taken.
• A seat costs $150, and includes 500 bids. It appears that customers will be able to purchase further bid packs at 60 cents per bid.

Check out these news stories and/or watch the video below for more information.

You round the corner past the dusky coffee shop and run smack-dab into a line that’s hundreds of people-long. You crane your neck to see what’s at the other end of this human queue, noticing tangles of white wires leading from heads to fingerless gloved-hands, Starbucks logos, fancy shoes, and the occasional jean jacket. Eventually you spot the unmistakable white emblem — that symbol of corporate fawning — emblazoned on the window of the store down the street.

You just unwittingly joined a line of Apple hipsters.

Here at QuiBids, we’re always trying to offer the right products that you would want to see up for auction. With the continued growth of our company, our search for the quality products to auction is a never-ending journey. However, we’ve decided to put that online retailing journey on a temporary pause and venture into the crappy used car market.

Instead of putting a quality product up for auction, why don’t we put the worst car in America up for auction? Only on QuiBids can you have this much fun while shopping for a Yugo. But we’re not putting just any old Yugo up for auction. We will auction off an exact replica of Giuseppe’s Old Yugo. Who’s Giuseppe? We’ll explain:

What do you call a Yugo with a flat tire? Totaled.

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