Madbid.com

[Jay]

Saw this advertised the other day and thought i would have a look:

http://uk.madbid.com/


In theory this looks pretty good. Each bid will cost you a maximum of £1.30 but sometimes 75p, depends on the type of product for sale. Watch the timer go down and try to place the last bid. Each time you bid it adds 1p to the final price and all products start at 0p.

So for example a £1,500 laptop starts at 0p and the timer is set at 3 minutes, the final price may be £80 and thats what you get it for plus whatever it cost you to bid. However i have been watching some of the auctions and everytime it gets down to a few seconds it jumps back up again when someone makes a bid.

Its deffinately a money maker for company. The laptop was going for £80.49 when i last looked so thats 8,049 bids (at 1p a bid) x £1.30 a bid = £10,463.70 !!!!! for £1,500 laptop.

[smithy]

Not surprised at how much they make but there are some bargains if done right, but when should you move for the purchase with so many people bidding.

[whytie-vxr]

it is a complete rip off, as you say looks great when you get a £1500 laptop for £80, but every single auction they make money on, i think a lot of them are stagged aswell just so you buy credits off them and bid

[mark_jamieson_2005]

what a nightmare it is you can wait for hours who knows when the bids goin to end think and you can use them so quick its 75p per bid if you buy loads and 1.50 per bid if you buy the minimum i think. each bid is 1p and and cars can go for £600 plus you do the maths on how much they made with 1.50 a bid