Auctions at QuiBids require bidders to pre-purchase their bids, which are non-refundable. Losing bidders are given the option to purchase the item at retail price instead, less the amount of the bids they placed.
The QuiBids format is similar to other "penny auction" sites. Buyers must pre-purchase bids at a fixed price. When these bids are used in an auction, the price of the item goes up by that price. The auction time is also extended with each new bid. As of May 2015, each bid has a value of 60 cents. Products are also auctioned directly by QuiBids rather than through third-party sellers.