Madbid Scam – Is Madbid a Scam?

Madbid.com is the new “penny auction” website currently taking the UK and Europe by storm. Madbid lets its users bid on gadgets, cash and even cars for the chance of winning them at ridiculously low prices. So low infact that it has led to people believing Madbid is a scam. A Macbook Air for £3.38? A Samsung 50″ Plasma for £13.50? It can’t be possible? Well it is. Madbid is not a scam. We’re here to address your concerns and outline the advantages and disadvantages of Madbid so you get the best out of your time and money there.

The general myth is that Madbid is a scam purely because it’s so unbelievable. You’ve probably heard that “If it sounds too good to be true it probably is!”. In most situations that makes sense however Madbid is different. Because of the way people have to use purchased or free credits to bid, the price of the products can be offset against the price of credits.

Think about it.

If thousands of people are buying and using credits constantly then of course they can afford to give away the prizes substantially cheaper! No scam there! This does mean most people are losing money, to avoid this you need to use Madbid properly. More cleverly…

Want to give Madbid a go? Then sign-up for free here.

Why Do People Think Madbid Is a Scam?

• They bid and don’t win! (hence losing money)
• They get pushed off auctions by teams of bidders
• They have heard rumours about ‘bots’ and cheats pushing prices up
• They don’t understand how Madbid works…

Why Should You Believe Madbid Is Not a Scam?

It’s important to remember MadBid has many credentials behind it that should reassure you that it’s not a scam. To trade legally in the UK there are many rules and regulations that they must comply with that are there to protect you, the user:

• MadBid.com has had over 170,000 auction winners since 2008
• They are a UK based and registered company (UK Co Registration No: 6609609)
• All their adverts have substantiated prices with a paper trail, we have an article on this explaining how it works
• Madbid.com run over 10,000 auctions a month
• All their products are brand new and from reputable sources and suppliers
• They have a lively and active Facebook page where all users can contribute their opinions and stories
• They have a gallery of winners, where they can post photographs of their wins – so other users can see that customers do win and receive products – or why not visit our car winners on the news page and watch their videos. You can see that all of our winners are genuine and live in the UK
• Madbid.com is registered with the information Commissioners Office (ICO)
• Madbid.com is Payment Card Industry (PCI) compliant, the highest security standard for online payments
• They feature both telephone and e-mail for customer support – If you have a problem you can immediately speak to real people
• Employees are never allowed to bid on the website and they do not have any automated ‘bot’ systems so that MadBid.com can bid on the site – all bids are from genuine and real bidders
• Madbid.com have been seen many times in the press with great reviews which you can read at the bottom of the page. They are featured on trustworthy websites such as The Times, BBC, The Telegraph and Moneyweek

How Does Madbid Work? – Video Tutorial

Want to give Madbid a go? Then sign-up for free here.

Madbid Features to Prevent Scammers

• ‘Winning Limits” which stop the larger bidders from winning everything, see ‘Must Knows’ in the FAQ’s for these limits
• They encourage responsible bidding on the website so that their users know how to bid in a safe manner
• They have extensive terms & conditions and anyone not adhering to these will be dealt with so that they do not hinder the bidding experience of others
• They even have advice from other bidders and winners on their Winners page and their News site – they give you tips and ideas on the best bidding strategies
• They have the ‘Sneak-a-peek’ and ‘Auction Peek’ service which allows you to see how your opponents bid and how products have performed in the past – with this customers can bid smarter and more strategically
• They encourage their users to bid responsibly, there are some amazing bargains to be had with on average an 87% saving on retail prices.

Meet Madbid Winners

Want to give Madbid a go? Then sign-up for free here.

Our Expert Madbid Tips

• It is vital to remember to take your time and do your research. Nothing is lost if you miss bidding on an item before it ends, however you will lose money if you get caught up bidding before an item is likely to end.
• Watch how people bid on items. Take note of the clocks “remaining seconds” every time it is reset and record it in a spreadsheet. You can draw a trendline and estimate when an item is statistically likely to end. Now start bidding just before then.
• Look at the past closing price of similar items and use this as a guideline for your auction. Remember to use an item that ended recently. The same item that closed 4 years ago will sell for nothing like that price. This is because Madbid is far busier now.
• Frequently people will bid in teams which can make winning items difficult. Avoid auctions where you can see multiple users pushing other users off items.
• Madbid Beginner? – Bid on lower price items before they open. Getting the first bid on lower cost items can make for a very easy win as most users don’t even check the cheaper items and you will win a percent of them. This can still make you a fantastic return on your bids and is a great way for beginners to start winning.

What Next? – Madbid Registration

If after reading our advice you fancy giving Madbid a go then you need to complete the following:

Still uncertain? Why not read our Madbid Reviews – both good and bad!

Madbid In The Press

“MadBid.com is the first UK-based penny auction where brand new products, such as Nintendo Wiis, iPods, laptops and flat screen TVs fall under the auction hammer everyday and sell for prices that can only be described as totally mad”