"Most of the time when that happens, either the shark's got hold of you or in Mick's case, it came in and gave him a bit of a bump. People get bumped by sharks all the time."
"Everyone who enters the ocean knows there's a possibility of there being a shark out there. It's so rare that I think it calms people's nerves.
"You always have little moments where you wonder, especially in some of the places you surf and you're by yourself in the middle of nowhere.
"It might just come into your thought process for a little bit and then go away and especially in sharky places. South Africa is really sharky and at Jo'burg (Johannesburg) there's been plenty of attacks.
"Everyone knows they're there but for it to happen in a surfing contest on live TV, you couldn't make it up."
Quinn has won four New Zealand surfing championships in his career and he became the first Kiwi to qualify for the World Championship Tour in 2001.
He expressed his relief that Fanning had survived the ordeal but believes he'll now be scarred for life.
"It looked like a big shark on the footage. It popped up and came right in front of him. It's what nightmares are made of.
"In saying that, it's been the best outcome for all shark attacks, with Mick not getting hurt, but he'll be scarred for life and it will take him a while to get over that.
"Obviously he'll surf again but it will always be in the back of his mind."
Kiwi surfer Ricardo Christie, who was also competing at the event, said the incident was a huge reminder of the environment their sport takes place in.
"So rattled with what went down today. So grateful you guys are ok," Christie wrote on Facebook.
"Huge reminder for everyone where our arena sits. The ocean ain't no tennis court that's for sure and we are all aware of that. We always know the possibility of this happening as we know these powerful creatures are there, watching our feet from below."
Christie, who was eliminated in the second round by former world champion Joel Parkinson, added: "Many people have been taken but we always push the fear aside as our love for surfing and our ocean is greater than the risk of this nightmare occurring in our own bubble. I wouldn't wish that experience on anyone, let alone one of the greatest human beings on earth."