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Revealed: How MadBid buyers can end up paying twice the price


Michael Browne
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The home page of auction website MadBid makes a series of stunning claims. One bidder snapped up a Fiat 500 for just £193. Another grabbed “a week in the sun” for a mere £3.28. A third is about to take delivery of a brand-new Mini One for the staggeringly low price of £6.83.

 

But a Guardian Money investigation suggests that successful buyers can actually end up paying twice the price for goods available on conventional retail sites, while the far more numerous unsuccessful bidders face losing £28 or more each.

 

We also found evidence to suggest that the company, ultimately based in the Channel Islands, is making extraordinary profits – potentially up to £14,000 on the sale of an Apple MacBook in one of its penny auctions. We also found pricing irregularities across the website, with “sold prices” incorrectly stated across its many international versions.

 

 

http://www.theguardian.com/money/2015/may/15/madbid-discount-auction-website-most-complained-company

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It's been known for a long time that madbid was a dodgy site. I remember a few years ago they were investigated as well, but they got around restrictions.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

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It's been known for a long time that madbid was a dodgy site. I remember a few years ago they were investigated as well, but they got around restrictions.

 

I was dumb enough to join madbid a couple of years ago and even dumber to deposit £10...(Money that they will not refund even if you don't spend it in bids) The same night I left many a message on social media warning people what a con it all is - I can't see them staying in business too long, once people finally realise what a dodgy ruse it all is.

Just hate every DCA out there

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They've been around for years. They're not going anywhere

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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theres a thousand and one S C A M S

 

most of them are legal and this proves that

Please note:

 

  • I am employed in the IT sector of a high street retail chain but am not posting in any official capacity,so therefore any comments,suggestions or opinions are expressly personal ones and should not be viewed as an endorsement or with agreement of any company.
  • i am not legal trained in any form.
  • I have many experiences in life and do often use these in my posts

if ive been helpful kick my scales, if ive been unhelpful kick the scales of the person more helpful :eek:

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