Madbid - Auction Website  » Web sites  »
4.0
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  • It struck me as being a crazy website so I thought I would take a look because products were being won for literally crazy prices
  • I saw the initial appeal, but had no desire to spend lots, just in the hope I won an auction for a “bargain” that had already cost me lots for the right to actually win

    • by JustHonest
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      I signed up to Madbid after reading about it in the paper. It struck me as being a crazy website so I thought I would take a look because products were being won for literally crazy prices. I wondered if this was really too good to be true and if im honest, it was.

      The idea seems to be that you sign up for an account and you purchase credit. Unlike ebay when you place a bid and if you win that’s what you pay, on Madbid you have to pay just to


      place a bid.

      You see bundles of cash and expensive products that are on the verge of being sold for a few quid and it does attract you to take part, but then I saw the too good to be true aspect of the website. As you see all these counters counting down from about 30 minutes you think that a product is about to go for pennies, then the bid is raised and the countdown begins.

      Ultimately, the product is still very likely to be sold for far less than it’s value, the ...


      • site must earn an awful lot through members spending money just to place a bid, winning the product and advertising.

        This was what I did not like about how the website worked. Ebay attracts you to look for bargains. I feel that Madbid tries to attract people to what they think is a bargain, but if they are not careful, what could actually not be much of a bargain whatsoever.

        They are literally taking money off everyone that participates in an auction, not just those that win.

        I see the website being advertised a lot

        so I suppose it must be popular and have plenty of users but to me it’s a bit like a gambling website as it’s attracting people with the thrill of winning, but always asking you to part with your cash in an attempt to get this thrill.

        This was why i left the website behind. I saw the initial appeal, but had no desire to spend lots, just in the hope I won an auction for a “bargain” that had already cost me lots for the right to actually win.

        You can find the website at www.madbid.com




    0
    Barry McDonnell says :

    They profess to deliver many High Street items at hugely knocked down prices. They fail to inform the viewers that your chance of securing one of these items is highly unlikely, although you may cough up almost as much in trying to do so.
    I recently participated in one of their auctions. I chose a function that is available, i.e. Autobid which is supposed to bid on the bidders behalf between 0 and 10seconds from the countdown deadline.
    vii. ) If nobody bids thereafter, when the clock reaches 0 the product is yours. On numerous occasions the clock did strike 0, only for an egg timer to appear and the auction to continue.
    viii. ) The automatic bid programme almost always takes a bid on the 10th second from the deadline. When bidders have 20seconds only to submit their bid, this practice ultimately doubles the bids received by the company, while also extracting twice the amount of money from the bidders.
    My first bid was on a car, I knew how much money I had available and thought I could buy my way through the system, outbidding any competitors because I had the money available. I chose to commence bidding when I felt the number of bidders had decreased significantly. On the final day, I bid against one other individual, the bidding continued to and fro. He finally fell, but automatically a new contestant took his place and then 3 or 4 other contestants joined the bid. I continued bidding against these new contestants for some time before I decided to drop out. I felt safe that there were a number of contestants bidding and I could rejoin later.
    ix. ) As soon as I cancelled my Autobid , a previously unheard of contestant joined the bid and won the car.
    I waited for some time before another car was offered. Again, I waited until the number of competitors had decreased to a small number. I again set my account on Autobid and let the system continue. Again my account was debited almost always on the 10th second before the deadline. Again, whenever my bid reached 0 seconds, the egg timer would appear and the auction continued.
    x. ) Late one night my account was blocked, the system refused to allow me continue, citing that I had spent a significant amount of money that day and that proof of identity was required by scan if I was to continue in the auction. I could not forward this proof immediately and within hours of my being requested this info, the auction finished. I am unsure who secured this car.
    xi. ) While participating in these auctions I received many text messages from individuals proclaiming to be legitimate companies requesting my bank details. Fortunately I was clever enough not to fall for these scams.
    xii. ) I rang the Company office, after finding their number on the website. The Irish office declared itself to be open between 15.00hrs and 18.00hrs. I spent an entire fortnight ringing their number, but I failed to get in contact with anyone. I then contacted the UK office. My request was completely ignored. I rang on a number of occasions, at international rate. On a number of these calls I asked for an email explaining why my account was blocked shortly before an auction was closed. I also asked for my account to be shut down altogether, as I was tired of receiving their promotional text messages. Eventually, after numerous calls and further expense, the text messages stopped. I never received my explanatory email.

    So to all readers, be aware of this website, be aware that the product that you are after will probably cost you less, if you buy direct. And you probably won t spend as many nights sweating and wondering if your money is lost, if you will ever end up with the item.

    Regards
    Barry McDonnell

    ReviewStream.com
    • Don't Be Nice. Be Helpful.

    The review was published as it's written by reviewer in December, 2010. The reviewer certified that no compensation was received from the reviewed item producer, trademark owner or any other institution, related with the item reviewed. The site is not responsible for the mistakes made. 2022121365770931/k2311a1222/12.22.10
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