MadBidReviews 397

Madbid is cheat site. In their promo they haven't mentioned that it will cost to place a bid. Never go for it. They charge you for every bid and even I have observed very minutely that many times when deal was finalizing it again started even after completion of timer. There is no truth and business in this site. I am going to raise complaints against it in authority They have mentioned that it cost to place bid in terms terms and conditions in in tiny section of very extensive page.

Warning, whatever you do, do not fall for MadBid! I did, and I never got anything for my money. It was all swallowed up by making bids. Can you believe it? They charge you to bid on items and you don't get anything in the end. They take all your money. Don't believe all the hype about things being cheap they are definately not. No one lets you know how much money they spent to actually bid on the item. They only tell you what the item was sold for. For example, It might cost them $250.00 to put bids on an item and then if they win it for $75.00, then it cost them a total of $325.00.

Stay away from this company. Remember the old saying "when something is too good to be true..."
After reading an article demonstrating you could pick up an Iphone and MacBook Pro for just a few quid, I was stupid enough to sign up and paid £99.00 and got double my credits.
Started bidding and before I knew it, I received a message on my phone that my account had been topped up with another £100, even though I had chosen the "no top up" option when I initially registered.
I ended up paying £285.00 for a Kindle worth £199.00.
In my opinion, this is a very clever and legal way of cheating people out of their hard earned cash.
You have been warned!

I can only say, AVOID. Whatever you do, stay away from this site, it is outrageous.

I am owed £1000, which should have been returned to me months ago. I have been promised responses then ignored. I was sent items that were not uk versions, therefore could not be sold on, the auto bids system does not work and I believe it appropriate to raise serious concerns and use the word "scam" here - I had multiple items with ongoing auto bids, credits to continue bidding therefore should have won the item, as explained to me when I contacted mad bids to ask why my auto bids were failing. I was told there would be an investigation as they had many careful experts monitoring bids and I should have won. This was many months ago and despite chasing and repeated promises of imminent response, nothing. I am now being ignored completely and am now having to pursue legal action.

The website suggests it has been featured in many newspapers including broadsheets, suggesting positive coverage. In fact the articles in many places warn of the dangers of this site.

Whatever you do, stay well away from this site.

Really wish I'd done some digging before I signed up to this site, what a con!
I didn't realise as it doesn't explain it during sign up that you are only purchasing the credits that allow you to bid, I thought I was buying credit that you then used to pay for bids you had won!
I bid on 100credits that I won for 1p and thought it would just take the cost off the credit I had just purchased but no, I was then sent to an invoice where they expect me to pay 50p with real money, 1p bid and 49p postage (yet another con) so after doing some research I realised that no I had not purchase credit to spend but credit to bid!
After I realised what I had done I emailed them straight away asking for a refund and to close my account, but of course no they don't do refunds and I was then informed I have to use my credits within 180 days or I loose them! (yet another con!)
So I can quite honestly say I feel a right tool for falling for this total con and will in future make sure I do a great deal of research before parting with any more money!

IT does not get any worse than this!
We offer you a free auction site, WRONG you cannot bid without paying, they should be saying YOU PAY TO BID, IF YOU DO NOT USE UP THE MONEY YOU PAY US, WE KEEP IT, YOU CANNOT HAVE YOUR MONEY BACK.

Then they should say:
We reserve the right to stop the auction or choose the winner, it is not the highest bidder who wins Please remember that one, THE HIGHEST BIDDER DOES NOT ALWAYS WIN!

We reserve the right to charge you for each bid, to allow you to use our auto bid but we charge you for that too.

We have reserves on products in our auctions. We will not sell unless products reach a set price. In other words we want our profit.

The site is a GAMBLING SITE, there is absolutely no skill involved, you may as well try the lottery.

Crap site with no chance of finding a bargain, in fact the buy now prices are often outrageous.

This is getting to the point of being ridiculous. These penny auction sites are designed to be a gambling site and to make money off people just like casinos. Even worse, venture capitalists are getting in on this game and investing big money into these sites. Makes sense I suppose, all of vegas is one big company now. I think the bad part is that these websites are just not regulated. At least the nevada gaming is regulated by government.

http://eu.techcrunch.com/2010/07/26/penny-auction-site-madbid-secures-4m-funding-from-atomico-ventures/