Mad Bid - anyone tried it?

Greenlizard0 said:
I think the problem is they can charge what they want. Who's to say that at 4:00am the owner isn't up putting in bids to keep his 'auctions' going?
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That could be a massive issue ... there's very little accountability in their system. There will almost certainly be a "minimum" number of paid for bids that an item needs to have before it will be allowed to be sold. Use little script that auto-bids if the number if below the minimum, add in a little bit of randomness so it's not so obvious and no one is any wiser.
 
Great idea! Good on the owner.

They could get someone who works for the company to keep bidding on the items just to make more cash. Why didn't I think of this first.
 
Why do that enough people will think wee hours of the mourning is a great time to bid anyway, all with the same idea. They have a large user base.
 
AcidHell2 said:
Why do that enough people will think wee hours of the mourning is a great time to bid anyway, all with the same idea. They have a large user base.
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Maybe now, but it wouldn't surprise me if they did it before they hit the critical mass user base.
 
K1LLSW1TCH said:
How come on the advert the "winners" are all chav scum?
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Because that is what the average person that does this will be. People feel safer if someone like themselves is advertising something. Look at banking adverts and their sudden obsession with "normal people" in their adverts.

Much cheaper and gets people to trust them. Personally I would much rather see the whole of tv inhabited by beautiful models but thats just me.

At any rate, this is no different to game shows, the national lottery or the x-factor. All of them make a massive amount of money from people calling in or paying for a chance to win.

Look at the gadget show, I would be very surprised if they didn't make enough money to cover the prizes on offer and then some from all the money people pay to enter.
 
The thing about Madbid I love the most (and it is a genius idea, don't get me wrong) is that when you've spent god knows how much on bids to win something, you STILL have to pay the final price to get the item!!!

It shouldn't be allowed to be advertised as an auction site as it's pure gambling. You're betting that no one will bid in the next XX seconds.
 
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If it looks too good to be true, it ALWAYS is.

Still, the OP strikes me as the sort of person who would fall for this stuff :p
 
I haven't looked into this whatsoever but what's to stop the lister of say a PS3 decide that he doesn't want to sell his item at £50 or whatever once the auction's ended?

I'm guessing you can get the value of your bids back if you don't receive the item, but I imagine a lot of the time when you win an item for a bargain you will end up with the seller declining to honour the transaction, thus you'll end up spending more on items you don't win than items you do.
 
weringo said:
I haven't looked into this whatsoever but what's to stop the lister of say a PS3 decide that he doesn't want to sell his item at £50 or whatever once the auction's ended?

I'm guessing you can get the value of your bids back if you don't receive the item, but I imagine a lot of the time when you win an item for a bargain you will end up with the seller declining to honour the transaction, thus you'll end up spending more on items you don't win than items you do.
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I don't think that punters auction their items off on there. The company that runs it decides what they wish to auction and then they put it up. All items should be new.
 
weringo said:
I haven't looked into this whatsoever but what's to stop the lister of say a PS3 decide that he doesn't want to sell his item at £50 or whatever once the auction's ended?

I'm guessing you can get the value of your bids back if you don't receive the item, but I imagine a lot of the time when you win an item for a bargain you will end up with the seller declining to honour the transaction, thus you'll end up spending more on items you don't win than items you do.
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The company buys stuff and sells it, there are no listers.
 
Used BidTV I think it was called a few years ago. Nearly the same tbh. I sure these companies dont even have the items in stock the mugs are bidding on as soon as the "Auction" ends the owners will basically pick up what ever the auction was for at their local electronics store or wherever. Like someone said earlier when you factor in the actuall cost of the bids on these items the site owners must be making hundreds of thousands per week. Licence to print cash virtually.
 
Robbo said:
If it looks too good to be true, it ALWAYS is.

Still, the OP strikes me as the sort of person who would fall for this stuff :p
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What the hell makes you think that? You know absolutely ZILCH about me!

That's really ignorant.

I didn't sign up for it, I just wanted to know what the catch was, which I KNEW would be there.
:mad:
 
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