There are a few sites around that offer auctions as a way of selling products – there are lots of different ways of selling and bidding. MadBid.com is one of them, but what makes MadBid different and why should you choose us?
Auction Types
- Standard Auctions: There are sites like e-Bay where you don’t pay to bid and only pay the final auction price plus P&P. The price goes up in increments with each bid and whoever has bid the highest when the auction closes is the winner. With this type of auction items can often be second hand from individuals as well as professional sellers. Because it’s free to bid prices can go quite high and the discounts can be very small and so it is often similar to buying in any shop online.
- Falling Price Auctions: These auctions have the price of a product decrease from its start price until it closes or sells out. A set quantity of the product is available and the first people to buy will win. So you buy it at the price you wish to pay, and wait for the auction to close – everyone pays the lowest price so even if you chose to buy at £100 if the price continues to fall and the auction closes at £30, you will only pay £30. You can get some good bargains, but they don’t tend to sell many brand names or high popularity products such as iPad’s, PS3’s etc.
- Lowest Unique Bid: This type of auction requires bidders to buy bids and then place those bids to try and find a price that is unique. That means for a bid to be eligible to win no other bidder can have made a bid for the same amount. Bidders are generally able to place multiple bids and the number of current bids at each amount is typically kept secret. This type of auction can often be a guessing game as all of the details are kept secret so it can often be based more on luck than skill.
- MadBid.com: MadBid uses a pay-to-bid system in which you buy a credit pack and then use these credits to bid. Using this system it means that we can sell products at incredibly low prices. There is skill involved and by developing your own strategy the bidding becomes much easier. We offer many high-end and popular products that customers really like to bid on.
Prices
So, with all these other types of auctions around what makes MadBid so good? Well unlike e-Bay where the prices can still go quite high or with only a small discount in price, MadBid sells products for an average saving of 87% off the retail price and all of our products are brand new and from reputable sources.
In one of our previous articles we mentioned some of the amazing bargains our users had got:
Xbox 360 with Kinect
RRP £249.99
SOLD FOR: £69.19
PS3 slim 250GB
RRP £284.99
SOLD FOR: £23.10
These prices include the cost of bids plus the final action price. Because of the way the MadBid auctions run we can sell excellent products at some great bargain prices.
Latest Gadgets
Also, MadBid is unique compared to many of the other auction sites such as ‘falling price auctions’ in that we offer many of the latest quality gadgets and technology such as the iPad 2, iPhone 4, Wii, Xbox with Kinect, Android phones, Galaxy Tab, Nintendo 3DS to name just a few.
We pride ourselves in making sure we are always up on the latest technology and so MadBid.com is the ideal place to get the latest gadgets for low prices. We often have products as soon as they are out and sometimes even start auctioning them a day or two before the official release!
Social
At Madbid.com we like to provide a shopping experience and for our customers to be able to interact with each other, share tips, make bidding strategies and have fun communicating. We have a very active Facebook page, forums, Twitter, competitions plus we have our Auction Peek and Sneak-a-Peek service which lets you interact with others by seeing their buying habits. We call MadBid ‘Social Commerce’ due to the extensive community and how you can interact with our other customers.
We have a large customer base and over 21,000 fans on Facebook alone. These customers interact with each other, help newcomers and provide a great community feel, reassure customers that MadBid is a legitimate business and we like to interact with our customers too.
We are always introducing new aspects of this side of MadBid, recently we gave our customers the ‘Easter Game’ which allowed them to compete for the highest scores and we had over 1000 entries and was a great talking point amongst the community and more recently we went out to see everyone waiting at Westminster Abbey before the Royal Wedding to meet new people and spread the MadBid love via the fantastic Mrs Madbid!
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So you can see why MadBid is different, it’s not just that we have incredibly low prices or that we have the latest gadgets it’s also our whole approach to auctions and involving our customers. We’re so pleased that we have such a strong online community and many supporters and will continue to grow this aspect into the future.
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