MadBid.com Penny Auction Site

madbidA breath of fresh air to the toxic environment of Penny Auction Sites, MadBid takes European online bidding to a completely different level thanks to the quality of their products. Based on the same penny auction site format as most American counterparts, the site has been live since 2008 and is probably one of the longest-running around the world. When logging in for the first time, users can feel intimidated just by the looks of it. Plenty of items, different categories to choose from, a collection of safety and endorsement seals that seem to scream: wow! This is the real thing. Is this really so? Let’s analyze what lies underneath the façade.

Getting Started

Signing up is a very simple process that ought to take no more than three minutes, or so they say. Mandatory fields should be completed in full and then participants are able to start bidding once they have gotten hold of the bids. First timers may get a little lost on the page, mainly because it is truly overloaded with info that displays from all over. Your best shot would be to log in via any social account which is really a great advantage for anxious users who have little time in their hands. When you register, you are asked to create a username. Don’t rush over this step too much. Nobody tells beginners about the importance of having a good username. Most suggested alternatives are too intricate or even completely forgettable and your username will become a part of your bidding personality.

Another tip for any penny auction site user is to read terms and conditions before you sign in. It is common for participants to feel disappointed in a site just because they failed to understand its functionality and the complete set of regulations that will eventually rule any transaction carried out between the company and yourself. Any clash of interest stemming from misunderstandings is bound to end up with a “We are really sorry, but…” to the user’s own detriment most certainly. There are hundreds of testimonies of people who share experiences on how customer support was all so helpful, but it was the user’s fault something went wrong because they did not between the lines.

Credit Purchasing

Once you have finished with the registration process, you must then move on to the purchasing of credits. They can be bought in packages ranging from £9.99 for a credit package of 80 credits to £374.99 for a package of 3,750 credits. This means that each credit runs about 12p. Credits should be used up to 180 days after they have been purchased. After that time, they expire. Credits enable participants to join in and take part in the different auctions available.

What kinds of items are available on MadBid?

One of this site’s most attractive features is variety. The first question you should ask is where do items come from? There are five major sources: warehouse products, warehouse closeouts, overstock surpluses, wholesale stock and manufacturer stock. All products are brand-new, carefully packed and completely sealed. Additionally, products come with manufacturer warranty. As for diversity, if you are a regular penny auction visitor, the first thing that will strike you is that so many items can be found in MadBid.com. Participants can find products in a wide range of categories that include:

Cars: Yes! MadBid is one of a kind in this sense as participants can actually bid on brand new cars like Audis, Mini Ones or Fiats 500 for the incredible price of £4,730. At least that is what they advertise on their homepage.

Electronic Gadgets and Goods: Computers, HDTVS, I pads, Tablets, I phones, state-of-the-art cameras and all sorts of technology like software, GPS and Kindle Fire HD.
Household Gadgets and Electrical Goods: Vacuum cleaners, blenders, mixers and hair dryers.

Gaming Consoles and Toys: Xbox, Play Station, battery-operated toys of all kinds.

What’s to Love?

t-upLuxury Brand Name Goods: All goods published on MadBid are certified and seem to be really good. There are hardly any complaints at all concerning this issue. Products are just the way they have been published online and are delivered promptly to your home address. Some users swear they have won really good-quality items and have paid ridiculously low prices for them.

Safety and Privacy: The site is legitimate alright. Even if you disagree with the system, transactions are carried out the way they are expected to and purchased bids are safely kept in your account until you use them. Safety seals are for real and no one has reported identity theft or abuse so far.

What’s the catch, then?

t-downSpending gone out of control: What they never tell you anywhere on their site is that you could end up losing a fortune just trying to bid on a product you finally never get. In the end, it would have been a much better deal to just buy the item by traditional methods. Even if the site now offers the chance to transfer used bids to your account in order to use in future purchases, it generally amounts to nothing because items tend to be somewhat overpriced and you end up spending much more.

Automatic Turn-off: The auto bid system is really tricky. For one thing, you lose control over your bidding and even when they ask you to set a time or money limit, biddings carried out with the auto bid tend to go nowhere, at least for you. To make matters worse, the site does not only offer automatic bidding assistance, but a new really dangerous feature called automatic bid recharge. That is, should you run out of bids in the middle of an auction, the system will automatically reload for you so that you can continue. Angry users who requested a refund were turned down and accused of not reading terms and conditions every now and then because they can change.

Word to the Wise: It may not be a scam, but it is certainly not a good deal. If you join, you should know you could end up losing hundreds of pounds.