madbid site

[BillG]

Hi all wondered what you all think about this site,brother in law sent it, seems strange to me ??

Penny Auction MadBid.com - online auction for laptops, digital cameras, cash, money, vouchers, consoles, LCD TVs, iPods, iPhones, cars, Penny Auctions (http://uk.madbid.com/)

[Dreamer]

Looks like a hoax site. How can you have an auction to buy ?1000 or a laptop selling for ?1?? I'd be very careful

The general rule is if it looks too good to be true then it is

[gmb45]

yeh right a mini for ?11.000 bid of ?266 and how come the bidding time keeps going up ?

[Bulld0g]

It's because you pay for every bid you make. It's not like ebay where your bids are free.

[HoTTDubbER]

looking at the things up for auction

its gotta be a scam

?600 CashRRP: ?600Auction Time:
45 s37 s
?52.85Highest Bidder

how can u have people bid on cash :s

[Bulld0g]

Yea but how many people have bid and at what price each bid ?

[flyingpig]

I seen this advertised on TV the other day, I think it was on Sky Sports News...

Some form of money making con.,.,

[rds60h]

It is not a hoax site,
BUT, it is a bit of a con. Because you have to buy your bids, I can't remember how much they are but remember calculating the cost of bidding for an item was very expensive.
For Example :: If each 1p bid costs 50p then just bidding 10 times cost you ?5 and the other bids that are against you have cost the same, so 20 bids have been registered raising the bid price by only 20p but the bidders have actually paid the auction site ?10 and the winning bidder will also have to pay the winning bid price.
The low auction price looks enticing but can cost you plenty and you may not even win the item !! So Beware !!
A winning bid of ?50 has raised 5000 bids, if the bids cost 50p each then the site has made ?2500 plus the ?50 for the winning bid that is how an item valued at ?1000 can be sold for ?50 !!!!
I just wish I could make money that easily.