Madbid?

daz said:
Exactly - it's a lottery/raffle and you're buying tickets.

It's like saying that the person that won the Euromillions "bought" the cash for £1.50. Of course they didn't it was just luck.
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what? Its nothing like that at all.
 
A 46" TV just went for £120.35. At 75p a bid that's £9026.25, add the final winning bid and minus the cost of the tv (~£1000), they just made about £8000.

In October a new Ford Focus went for £691.92. At 75p a bid that's £51894, add the final winning bid and minus the cost of the car (~£15000), they made about £37,000 on that car.

I'm sure there are plenty of overheads, but it seems to be a very profitable business.
 
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