Conned by a bidding website

alex73

I was conned by a bidding website the other day. Not going to say the name of the site as not to drive others to it. but basically a neighbor said it was a great place to bid for an ipad. So Paid 15 euros and got 50 bids. After 10 mins with no Bids lift I realized i have been truly conned.

Anyone else been conned by these websites?

Or better still have you won anything from them?

mickydoomsux

The general rule of thumb with the 'Net is that if it sounds too good to be true then it usually is.

Buyer beware and all that.

Always laugh at them sites... They make an absolute fortune from people's naievity.

It's not a scam in any sense of the word by the way.. People win prizes for next to nothing but it's by pure chance that you end up bidding last. I imagine alot of people get addicted to it..

Badgermonkey

By naming the site, surely you decrease the chance of others experiencing a similar misfortune?

SadieSue

Nice neighbour you have :pac:

Jaysus stick to one account.. It's confusing. And it's not a scam. It's just how the site works.

alex73

bid on real auctions on ebay.

http://www.bbc.co.uk/dna/h2g2/brunel/A78285126

RichieC

sh*tbid.ie.. it's totally sh*t.

Thomas_S_Hunterson

The economic and game theoretical analysis of these sorts of sites is quite interesting.

http://www.codinghorror.com/blog/2008/12/profitable-until-deemed-illegal.html
http://www.stanford.edu/~ned789/Augenblick_JMP_Penny_Auction.pdf
http://en.wikipedia.org/wiki/Bidding_fee_auction
http://en.wikipedia.org/wiki/Dollar_auction

NeVeR

Madbid is a joke.. Just look at there packages... 200 bids which you can buy for €20 has a listed RRP of 179 LOL I emailed them asking them why they have this listed wrong... and most of there RRP's are wrong and i got no reply.

Last week you had to use 2 bids each time you bidded on a xbox/playstation,, this is when the bids cost the normal price..

Now they have a promo on where bids cost €0.10 but they up the amount of bids you use to 4 hahahaha what a joke

jor el

Bidding Fee Auctions, or Penny Auctions, are not scams, but they are not really auctions either. If you don't read what you're signing up to, or don't understand how it works, then you need to learn before you part with your money.

The referral to bidding fee auctions sites by name as scams stops here, as such accusations can get this site into a lot of legal trouble. Posts on this thread will be edited and deleted for legal reasons, and this thread is now closed.