Mad Bid

[cassa333]

I was thinking of signing up to Mad Bid as I hve heard you can get bargains on some big ticket items and wondered if anyone can clarify something for me?

When you bid on something and you are not successful do they still take the final amount you bid from you or do you not pay anything unless you win?

Thanks

[Buenchico]

Avoid!
http://www.theguardian.com/money/2014/oct/20/madbid-want-refund-bid-auction

[tonyav]

Just had a look at the link that Chris has posted. I can't believe that those cars were sold at those prices, surely they would have had a reserve price.

[PankySmooch]

Don't bother, you pay to bid

[EDDIE51]

Yes, you pay the full amount of ALL your bids, including all the losing ones.
Most people end up paying £100s but win nothing. It is not an auction at all it is really a lottey.

[ummmm]

What idiots would sign up to that??!

[EDDIE51]

^^ that is the point , most players do not realise that you pay to bid.
They try to hide that, it is no more than a scam depending on stupidity.

[cassa333]

I thohtit was the case of paying each bid even if you lost but couldn't quite believe it at first.

They would only need 100 people bidding £10 for an £500 compter or somethng and they have £1,000

I thinkI'll give it a miss

[EDDIE51]

One person could put in say 50 bids for an item at £1 each bid and get nothing. Multiply that by 1,000s and you see how they make money.

[EDDIE51]

Watch this, Mad bid live auction, scroll down to actual actions
http://www.madbid.com/?KW=GGL%20mad%20bid&ADGRP=MadBid&CAMP=MadBid%20Branding&gclid=CJTQucWl1sQCFafItAodgDsACQ
Remember each bid gives them £1 and increases the price by 1p

[weecalf]

It's a wee bit like elections you put a x in a box and it costs you thousands over the next five years .

[technolog1c]

Definitely avoid, it's just gambling. Not a complete scam when you know how it works but not worth it.

decent review here https://www.incomexl.co.uk/auction/madbid-review/