Has anyone tried madbid.com?

 

There seems to be some truly unbelieveable offers on there! Are they for real? Someone had a mini for something like £6!!! Has to be a con somewhere! :)

you pay for the bids as well, so effectively you could win it for £6 plus what ever it cost you to place bids down on it.

 

So say you got £10 worth of bids, (not sure how much a bid is on madbid) each bid was 50p thats 20 bids, if you dont win, thats cost you £10, they keep the cash you come away with nothing.

 

If how ever you manage to bid and win, you could effectively win the item for £6 plus what ever it cost you to bid.

 

Its a high risk bidding system where everyone who bids ends up paying towards the cost of the item but only one winner keeps it.

Ive had a dabble and Ian is right.. almost like the playing the slots...

you pay for the bids as well, so effectively you could win it for £6 plus what ever it cost you to place bids down on it.

 

So say you got £10 worth of bids, (not sure how much a bid is on madbid) each bid was 50p thats 20 bids, if you dont win, thats cost you £10, they keep the cash you come away with nothing.

 

If how ever you manage to bid and win, you could effectively win the item for £6 plus what ever it cost you to bid.

 

Its a high risk bidding system where everyone who bids ends up paying towards the cost of the item but only one winner keeps it.

 

Ive had a dabble and Ian is right.. almost like the playing the slots...

 

Thanks guys......I thought it was too good to be true! lol

Dont egt me wrong, I bought a cheap Gourmet membership card from it.. saved money already in Pizza hut alone...lol...

also the price it ends for is then the price you have to pay, so you buy your bids, bit the thing up, which will only end if noone bids in the last second....which they will, so effectively what ever the item ends for you then have the option of paying that amount for that item, turns out to be a complete rip off, say for instance you pay ten pounds for ten bids, those bids are worth 1p and the auctions run in 1p increments so a thing that sells for £6 is actually £600 as its take 600 bids to get to £6, then you have to pay that amount in a lump sum for the item......stay away or you will be poor!! the only one who wins is the fella who came up with the idea!

Dont egt me wrong, I bought a cheap Gourmet membership card from it.. saved money already in Pizza hut alone...lol...

 

lol, probably get a 1" pizza :)

say for instance you pay ten pounds for ten bids, those bids are worth 1p and the auctions run in 1p increments so a thing that sells for £6 is actually £600 as its take 600 bids to get to £6,

 

And the best way to win anything is to wait till it is at the rrp price. Then have a bid and you will more then likely win.

 

Like in the quote above, say your bidding on an iphone 5 which is worth £600 in the shops, you might as well wait till it gets to £6 and then have a bid. Everything will always reach its actual price then some lucky bidder will win it for a bargain of £6.

 

I hope you understand, confusing myself writing it.

 

Say a car is £20000 in the garage, some lucky person will win it for £300 but Madbid have made £30000 as each 1p bid is costing £1, so you are more likely to win after the car has reached £200. :confused1: lol

Going to stay well away from that then!! When things are too good to be true, they always are!

Genius business model however...