andysubaru3089

Hi,
I have just signed up for it but dont understand. Seen the tv ad saying people where buying bmw minis for under £100. Does anyone else use and and have anyone bought anything off it.

scoobyvirgin

You can't buy, you win.

boxst

I looked at them a while ago (to set one up) and the maths are very good for the site if you can get the advertising right.

If you look at the site now, there is an iPhone going for 'only' £66, but the site has made 6600 * £1.

As a consumer, a complete waste of time in my opinion.

Dedrater

You are better off planting a door mirror in your garden, with the hope that one day it will mature into a fully grown M5.

Phantom_Flan_Flinger

Bids increase a penny at a time.
To place a bid, you have to buy them first. Depending on what 'bid package' you buy, bids cost between 75p and £1.30.
So you place your bid, it costs you 75p. If nobody else bids, you won the auction for 75p.
When you place a bid with only seconds left, the timer resets to 30 secs / 1min or higher. Plenty of time for someone else to bid.
And so it goes on from there.

If you look at the maths - A recent win for £50 cash went for £3.84. Now even if you bought a 50 bid package, each bid works out at 90p. If you take the 90p as an average bid price for the auction, the £50 cash went for 384 bids x 90p = £345.60

So you might opt to sit up all night to try and wait for a quiet period. That doesn't work as Madbid has it's international sites all bidding on the same auction, which is why you never see full model details.

Hope this helps.

Dave.

unclebuck

The Phantom_Flan_Flinger

Mein Gott - ziss a name from the past - und nein miskaten

From wence were yee recinciled??

Luminous

iTrader: (3)

If it looks too good to be true, it always is

NotoriousREV

It's like buying something with a chance that you might not get the item. You have to pay to bid and then you have to pay for the item. So if someone "wins" a car for £100, it's the cost of the bid package and then whatever the price is. It's basically a great site for unemployed people who have nothing else to do. They probably have a higher boredom threshold than you and will therefore win

DJ_Jon

iTrader: (7)

Its a rip off, plain & simple. I checked it out yesterday & quickly realised there is very little chance of winning the auctions without spending a lot of time on the site. Ebay is a much better bet.