There has been much debate around the internet for the last couple of years regarding MadBid.com, and their online ‘auction’ website, which many people online are calling a scam, and not to bother. What are your thoughts? Have you used MadBid.com?
When you initially look at the auction website, it all looks good, flashing low prices, refreshing, etc. etc. MadBid.com is all designed to lure potential customers in, in a similar way to which a gambling website does.
What is Madbid.com?
If you visit the website, the first thing you will notice, is that very many popular products with a low number underneath them, which without a doubt, is designed to make the viewer think that there is the potential to purchase the product, or bid for the product, and maybe even win the bid, at such a low price.
Do people win products with low bids?
Well, if you think about it, any website offering those type of products, will have to make sure that there is evidence that people do actually win at low prices, but you also need to be aware, that Madbid.com is a business, not a charity, and although their main focus will be to make sure the website is highly profitable, they also need to make sure that there are enough ‘winners’ to ensure the legal people are satisfied without sniffing around too much, or asking too many questions.
Can you just make a bid, similar to eBay?
No, of course you cannot, because MadBid.com is not your typical bidding website, they make you pay to bid, which is most definitely where they make their money. And when you see some of the prices on the home page, it is easy to see why many people could quickly be enticed to buy ‘bidding packs’ to make a bid.
So, is MadBid.com a scam?
We will obviously not open ourselves up to confirm such a statement, but we do feel that the website is designed to receive more money than it pays out in bids. You simply need to be fully aware of what is happening here. In our opinion, we feel the chances of you ever winning one of these auctions are slim, to none, and that if you base your decisions around the prices that are shown on the MadBid.com website, when deciding to buy your ‘bidding packs’, then you will probably be very disappointed.
Would you advise people to use MadBid.com?
Personally, no chance, it is a business website, with a designed theme around potential, not reality. There is no transparency, and unless you can see the facts behind the scene, then you can never REALLY know what is happening. The odds of you winning anything of value, is probably similar to a general lottery, which in effect, is what MadBid.com is. Highly hyped, and designed to attract sales of bids, and how valid these bids really are? That is open to debate.