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July 26, 2012 / Admin

Is Nothing More Than A Gamble?

Recently, a class action lawsuit was filed against Quibids, LLC in the United States District Court for the Western District of Oklahoma. The penny auction website allows consumers to purchase ‘bids’ that can be used in online auctions. The catch is that the company alleges that consumers purchasing items through the bidding process obtain those items at steep discount prices. The lawsuit alleges that in reality, the website is nothing more than a gambling scheme. The claim is that the majority of customers using the site lose money because the total amount they spend between purchasing bids, paying for items in auctions that they win and paying for items using the website’s “Buy It Now” feature exceeds the retail value of the items as stated on the site. In many cases consumers don’t win and don’t receive any items, and in turn lose money for each bid purchased.  Consumers should beware of this site and realize that although it purports to be an auction site similar to Ebay, its tactics may be deceptive.


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