Behr
Member
Registered: 5th Feb 07
Location: Hemel Hempstead
User status: Offline
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anyone use this?
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noshua
Member
Registered: 19th Nov 08
User status: Offline
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http://uk.madbid.com/show/212303-New-MINI/
lol..
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Ojc
Member
Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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I use UKFLAVA
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noshua
Member
Registered: 19th Nov 08
User status: Offline
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http://forums.hexus.net/shopping-retail-therapy/151448-madbid-com-scam.html
this pretty much sums it up;
quote:
madbid isn't an auction, its a lottery - and a very lucrative one (for them)
i.e. you pay per ticket (bid). Ever seen an auction do that?
More bids = higher chance of winning.
Every bid increases the price by 1p (but costs you £1).
So if there are just 400 bids for an ipod,
thats £400 revenue for madbid,
and one of those bids gets it for £4
(and everyone else loses their bid money (£1 per bid).
Now it is supposed to be the last bid wins - but it is acceptng bids after "auction end", so I suspect they have a set amount of revenue to receive before really closing...
[Edited on 23-12-2009 by noshua]
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mantamark
Member
Registered: 19th Jun 06
Location: Northumberland
User status: Offline
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saw the advert earlier, instantly thought "who would be stupid enough to do this"
expected doyle to post this thread tbh.
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Ojc
Member
Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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Peter Piper Picked the Pepper.
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Gary
Premium Member
Registered: 22nd Nov 06
Location: West Yorkshire
User status: Offline
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Load of shite and a waste of money.
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Reedy
Member
Registered: 11th Apr 04
Location: Hammersmith
User status: Offline
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quote:
Originally posted by Ojc
I use UKFLAVA
What was that guy called who had that site.
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_Allan_
Member
Registered: 24th Mar 04
User status: Offline
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quote:
Originally posted by glb
Load of shite and a waste of money.
It is unless you're one of the last to bid and you've entered very few bids then you're getting something quite cheep. However they are raking it in looking at some of the current amount of bids on things and the prices you pay for 'bids'. I doubt many things go by without them making money on each one.
[Edited on 23-12-2009 by _Allan_]
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Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
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So its kind of like another type of those 'lowest bid wins' type auctions - where it costs you a £1 or more to enter and you have the chance of winning the item for a low amount.
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willay
Moderator
Organiser: South East, National Events
Premium Member
Registered: 10th Nov 02
Location: Roydon, Essex
User status: Offline
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quote:
Originally posted by Reedy
quote:
Originally posted by Ojc
I use UKFLAVA
What was that guy called who had that site.
GREG1
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Neo
Member
Registered: 20th Feb 07
Location: Essex
User status: Offline
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quote:
Originally posted by Cosmo
So its kind of like another type of those 'lowest bid wins' type auctions - where it costs you a £1 or more to enter and you have the chance of winning the item for a low amount.
Looks like actually its highest bid and everytime someone bids it resets the counter to 2mins 
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N3CRO
Member
Registered: 12th Apr 07
Location: Sandy, Bedfordshire
User status: Offline
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quote:
Originally posted by noshua
http://uk.madbid.com/show/212303-New-MINI/
lol..
Top speed (mph) 1093 
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noshua
Member
Registered: 19th Nov 08
User status: Offline
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That's John Works for ya!
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