MadBid

SIGN UP BONUS: Upon registration, members receive 3 bids worth £4. They can put these bids to immediate use and start participating in penny bid auctions. You also receive 3 bids for every friend that you refer to Madbid’s low bid auctions. MadBid also offers one free bid per day for 30 days with the purchase of even their most minimum package. You can claim your daily bid by completing a site survey.

It should also be noted that you can save money on bidding when you purchase online bid packages. Bids on MadBid can cost anywhere from £0.75 to £1.50. You can bring the price of your bids down by purchasing packages of 100 or more bids. For example, £100.00 gets you 100 bids for £1.00 each. £375.00 gets you 500 bids at £0.75 per bid.

NUMBER OF AUCTIONS: These penny bid auctions run at hourly intervals with anywhere from 6 – 12 live low bid auctions running at a time. Auctioned items can include a Fiat 500 car, a Samsung 40” TV, a 3G iPhone, Nintendo Wiis, laptops and digital cameras.

There are also MadBid “Rookie Auctions” – free auctions that are exclusive to new users, designed to help beginners understand how penny bid auctions work. Most of these auctions are for MadBid bids at a discounted cost.

One common complaint about MadBid auctions is the number of items like cash, auction bids, vouchers and scratch cards that sometimes flood out the higher end items in live auctions. Granted, there are many people that enjoy bidding on such items, many people prefer to see high valued items up for grabs.

To MadBid’s credit, their online surveys do frequently ask members what specific products they want to see auctioned off on the site. And it’s not like there is a shortage of top quality products on MadBid.

Another nice feature of MadBid is you are able to see what penny bid auctions are coming up in the days to come. You can review item details, see the time bidding starts and remember to monitor the clock and strategize your bidding. Many members choose to set up AutoBids in the “Member Controls” section of the site when they see something in “Future Auctions” that appeals to them.

EASE OF NAVIGATION: MadBid is a very “busy” site. There is a lot going on. It may actually be a little intimidating at first for low bid auction novices because there is so much on the site. However, in the “Member Controls” section of the site, there is a button for “Easy View”. This quiets down the page a little, breaking up the Rookie Auctions, Current Auctions and Future Auctions into a list format that is a little easier on the eyes.

All of the most relevant and pertinent information is readily available on the site. There is a solid “How It Works” and “FAQ section. There is both email and phone support available in the event that you run into any problems or issues.

OVERALL RATING: It’s important to remember that MadBid is a penny bid auction that differs from reverse auctions or unique low bid auctions where you’re bidding a specific amount. All your bid does on MadBid is increase the current bid amount by an increment of 1p while resetting the auction’s time clock. Each time someone bids, the current bid on display increases by 1p and the time clock is again reset. The auction is over when the clock finally hits 0.00, nobody counter bids and the last person to bid wins the right to purchase the item for the final low bid amount showing at the clock’s expiration.

So, yes, you can obtain goods at bargain prices, however, you must keep in mind that you’re spending £0.75 to £1.30 on penny bids. It’s very easy to become addicted to penny bid auctions and not realize how much money you’re spending and the likelihood that you’ll walk away with nothing. That said; check out MadBid to see if it’s a gamble you want to take. Take advantage of the free bids and perhaps you’ll be one of the fortunate ones that win goods at a fraction of their actual costs without frivolously throwing away a lot of money.

Click here to bid with Mad Bid