Madbid works in India but there’s a twist.
A really bad twist, personally I did bidding but ended with nothing in hand, my money was stuck at Madbid, valuing approx 1800INR.
Now to get this much amount back you will have to purchase something at Madbid site from their products listing of Products purchasable using Earned Discount.
I ordered Healthline weighing scale, which costs me around 2300INR. which included 300INR shipping and handling charges.
Okay, everything went well by giving some additional amount to my existing balance and order was placed. When package arrived, I was in deep shock because product was actually shipped by Flipkart. Total cost on receipt was 1500INR. First thing which came in mind was WTF is this. If I had to really buy it from Flipkart I would have purchased it on Flipkart itself. Then I checked for same product on Flipkart and it was there with same price tag of 1500INR.
So, to conclude Madbid took my 800INR against shipping and handling charges and placing order on Flipkart on behalf of myself. Although product was genuine as it was really sent by Flipkart and not Madbid.
Now, it’s your turn to decide if you want to get same experience like me and end up in a loss. Fortunately it was not too big amount to lose against this terrific experience.
Here is some information about how Madbid actually works and not as what it is promoted:
Every aspect of madbid.com is heavily stacked against the bidders. From the ridiculous situation where users have to pay, up front, for each bid, in the form of credits - to the auto-bidding process, which can wipe out 1000 of your credits(approx. £100) in less than 30 mins, sooner if the bid duration time is down to 5 seconds:
There are never more than 10 or 12 auctions on the go at any one time. thereby ensuring that there are many bidders for each auction.
There is no search facility on the site, so you can only bid on whatever items are currently live.
Each item carries a’multiple credits’ figure, e.g. 4x 5x 6x 8x - meaning each bid costs the bidder these multiples in credits.
Each auction item can only have ONE winner. So, all other bidders lose the credits they have just used in bidding. They do offer a discount on an item’s RRP based on the amount of credits used by the bidder, but these offers expire after a short time and anyway, if you add the cost of the spent credits to the discounted price, you end up paying the full RRP anyway.
Auctions can last for days, so even if you are prepared to monitor the auction over a very long period, you will still have no idea when the optimum auction price has been reached and consequently, it’s impossible to judge when the best time to start bidding would be.
I work in the IT industry and can see that their site uses very sofistcated software - this makes me wonder if these auctions are kept running artificially. A little tweak in the programme could easily place a robotic bid just as it looks like the auction is about to end. Just a thought from my suspicious mind.
When all the spent credits and final auction price are totted up, madbid are probably raking in much much more than the value of the auction item.
Bottom line:
Don’t get involved
They describe themselves as the’No.1 fun shopping site’ when in reality, it’s just a money making exercise on behalf of the owners. A casino where bidders have very little chance of actually getting a bargain or even winning.