On line bidding site Quibids

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Hi Mylot Friends, Online bidding is quite new to me, I never tried online bidding till now. How far it is right that we can have costly products cheap cheap rate? Is it possible to win in bids, how much time we have to spend in bids to win a product. I have seen a online bidding site Quibids, please share your experience with online bidding site Quibids