madbid.com on line auction

[jawa]

has anybody been on this site,it seems a bit to good to be true.
http://uk.madbid.com/

[physco_nutcase_danny]

never been on the site but seen it advertised on tv.looks to be a bargain site.there much be a catch somewhere or some sort of very expensive fees.

[Bannon]

The catch is that you buy bids, so you may get summit for £50 but you may have spent £20 to get to that so you pay £70 in the end, each bid costs so much, that's how the site makes money

[Bmp-Productions]

yeah its all about how many bids you buy, theres offers on bulk buying and if im correct in saying when you join you get so many free bids

[Yamaha318]

£15 for 15 bids.. plus you get outbided by fake people.. thats how they make money!

[Husky]

basically you buy bids, you can then bid a set amount of times before you need to buy more bids, and when someone buds the times of the auction goes up so much, so for example if you bid once it will go up one minute so thats one more minute before the auction ends, this usually goes on for hour and hours so by the time it comes to an end the site makes around £5000 on a £1000 laptop or whatever it is for sale....