RMweb Gold Colin_McLeod Posted March 19, 2011 RMweb Gold Share Posted March 19, 2011 Not strictly an E bay issue, but a novel alternative for buyers is at MadBid.com. Auctions open at a specific time, bidding cost approx 1p per bid (in some cases 2p or 3p). There is no advertised end time, but the auction closes when there have been no bids for a pre advertised length of time (e.g. no bids for two minutes). All items are brand new products (no railway items at present). I'm going to try it out on something cheap to see how it works in practice. Has anyone else on here any experience of this site? Link to post Share on other sites More sharing options...
RMweb Gold PhilH Posted March 19, 2011 RMweb Gold Share Posted March 19, 2011 I did wonder about this a few months ago, but got frightened off by many less than favourable reviews on the internet. I would suggest that maybe you read up some more before using madbid. Link to post Share on other sites More sharing options...
Stormbringer Posted March 19, 2011 Share Posted March 19, 2011 Having heard about this site before I've just been and had a nose. It would seem that it doesn't like AOL (something to do with cookies) which has saved me a few quid. Pete Link to post Share on other sites More sharing options...
Il Grifone Posted March 19, 2011 Share Posted March 19, 2011 I joined in a less than lucid moment - they were offering free bids or something. That's as far as it went, as it seemed to me rather too much like gambling. They keep sending me emails.... 'nuff said. Link to post Share on other sites More sharing options...
Horsetan Posted March 21, 2011 Share Posted March 21, 2011 They advertise occasionally in some newspapers. I do wonder whether the featured alleged "winning bids" on some major stuff like new/new-ish cars is in fact just a figment of the advertising imagination. If it looks too good to be true, it usually is. Link to post Share on other sites More sharing options...
RMweb Gold Brinkly Posted March 21, 2011 RMweb Gold Share Posted March 21, 2011 I agree with the gambling comment! I just think it has a sleazy feel about it, bit dodgy 'off da back o' a lorry!' wink, wink sort of feel to it, I would be very careful. Sites like that can be addictive. Regards, Nick Link to post Share on other sites More sharing options...
Markaccy Posted March 31, 2011 Share Posted March 31, 2011 As soon as I saw the advert it put me off stupid suggestions like I could get a ford focus for £800 or iPad or £30.if somethings too good to be true. You know the rest Link to post Share on other sites More sharing options...
RMweb Gold Brinkly Posted March 31, 2011 RMweb Gold Share Posted March 31, 2011 Just a quick update and a real warning. My brother had a look on Madbid and explained to me that the way it works. The item e.g. The Brand New Ford Focus is listed on a 2 minute timer, the bid is £0.00 you place your bid, and the figure changes to £0.01, the clock then resets to the full 2 minutes. Then the next person bids and it goes up 1 pence each time, but every bid resets the clock. The way the sods make their money is that you purchase credits. Some items are one credit, and others are six, so if you purchase 80 credits that will cost you £9.99, each 'credit' costs about £0.11, and getting back to the Focus example to place a bid of £0.01 on the auction, it will cost you 6 credits at a cost of £0.66 per bid, so you are actually spending £0.66 on the £0.01 bid. So basically it is gambling with very low odds of you winning, but very high odds of you loosing money! I'd actually save up and buy the item! If you 'won' the item which is highly unlikely, you are also responsible for the end price, plus handling fee which seems to be about £10 per item. So just £1.00 of bids on the auction site would cost the players £66 in credits. The Brand New Ford Focus, for just £605, would have cost nearly £4000 in credits, plus the £605 and the handling fee, it might seem a bargain, but I just feel it is a total waste of money and the fact that you would have to sit on your computer for the duration of the auction! Working on the basis of £6.50 for the iPhone, that would cost £430 odd in credits and the handling fee and the end prince! I'd stick to real shops! Regards, Nick. Link to post Share on other sites More sharing options...
Markaccy Posted April 1, 2011 Share Posted April 1, 2011 thanks for that detailed explanation, ive always wondered how they got away with that advert. its the sort of thing id expect to find as an email in my junk folder and not in the middle of corrie. Link to post Share on other sites More sharing options...
F-UnitMad Posted April 1, 2011 Share Posted April 1, 2011 Just a quick update and a real warning. My brother had a look on Madbid and explained to me that the way it works... Thanks for that explanation, Nick! I took a look at MadBid once; decided I couldn't make head nor tail of it, and stayed well away ever since!! I think the bit about buying credits seemed to be very well hidden, in very small print.... Link to post Share on other sites More sharing options...
RMweb Gold Colin_McLeod Posted April 1, 2011 Author RMweb Gold Share Posted April 1, 2011 I'm glad I asked on RMWeb. That explanation makes sense but is not made clear in Madbid publicity. I'll stick to e bay and RMWeb. Cheers Colin Link to post Share on other sites More sharing options...
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