MadBid.com Review – Is it a scam?
MadBid, which you can find at MadBid.com, is an entertainment auction site. On its homepage, you will be asked to choose your region as the language used for the site could vary depending on your chosen region. Once you have chosen a region, you will be taken to a page that contains products that are up for a bid. MadBid claims that by signing up in their website, you can bid on warehouse items and closeouts, overstock surpluses, wholesale stock, manufacturer stock, and many more. It further claims that the company has been featured in well-known publications like The Sunday Times, The Guardian, and Money Week.
More about MadBid
Compared to other auction sites, MadBid claims that their products are brand new, come with warranty, guaranteed to sell, and bidders could save as much as 80% of the item’s original/market price. Prospective bidders must register to participate in the auction. A free sign up form can be found on their website. It basically asks for your personal and contact details like a username, email address, and password. You will also be asked to agree with their Privacy Policy and Terms and Conditions.
Once you’ve signed up, you will be asked to choose your credit package. There are currently five different credit packages that you can choose from: x-small (275 credits), small (350 credits), medium (500 credits), large (1,000 credits), and x-large (3,750 credits). Once you’ve paid for your chosen package, you will then be redirected to the page where you can start bidding for electronic products, sports equipment, and travel packages.
Final thoughts on MadBid.com
Many people thought that they could really save on their product purchases once they sign up for auction sites like MadBid.com. While some may actually help you find discounted products, what MadBid.com offers seems to good to be true. When you read the Terms and Conditions, you will find out that the 1 cent bid is just an illusion. You aren’t actually bidding for 1 cent. You can calculate how much you spent for the bid by dividing the no. of credits you got by the amount you paid for it. Also, it’s worth noting that the purchasing credits can’t be refunded.
Signing up in MadBid.com is like gambling. You will spend money on bidding for products with no assurance that you can actually have them. If you’re looking for discounted brand-new items, you may want to look for established websites like Amazon and eBay. These sites offer competitive prices on brand new items.