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Is MadBid Legit? We Hear You Say

posted by Evelina

You might be surprised but  here at MadBid we read every comment, tweet, video blog and Like that comes through. A popular question that people are asking at the moment through a lot of social media channels is – Is MadBid Legit?

 

We are really not sure what the mystery is about the MadBid auctions but we thought we would try to see why people might think MadBid is not legit. We put our heads together and came up with the following:

 

“The prices are too good to be true” – We thought this would be the main divider for people. The low prices might intrigue people but others will probably see it as a too good to be true sort of deal and move on.  All we have to say to that is, if you enjoy paying full RRP for products, you can still do that on MadBid. All our products come with tracking, seals, warranties etc., so you will get it delivered as you would buy it from the brand’s store. Does anyone know if Samsung even has a bricks and mortar shop?

 

“Penny auctions are a scam” – The penny auction market is still very new so you do need to make sure to check the company credentials before you shop . MadBid goes above and beyond to try make customers feel like they can get in touch at any point of the user journey. Also for an online shopping website, MadBid is setting the benchmark for gamified e-commerce, we want people to have fun on our website, but at the same time we are commissioning experts from the industry as well as one of the largest accounting firms in the world to drill through our shopping website and point out all the areas that need improving or developing.

 

“It’s impossible to win” –  Winning an auction on MadBid is not the easiest thing we will admit. There are a lot of factors involved and this is why we encourage all new customers to take their time and watch the auction countdown timers. By getting a better sense of how auctions work, you will know how to place your bids wisely and know exactly when to place them. We have customers who have been with MadBid for quite a while and are now stacking up as many as 500 auction wins.

 

“You do not get your money back” – Ok let’s get this cleared up. MadBid issues refunds on credit packages that have not been used e.g. if you buy 400 credits and you want a refund, that 400 credits needs to be all there.  If you have placed bids in the auction, you cannot get a refund as this would be unfair to other bidders who also placed bids in the auction. However, this does not mean that your money is wasted, no no. Your spent credits in an auction will be reimbursed as Earned Discount once the auction has closed. The value of the spent credits will be converted into money that you can use as a discount voucher to purchase any product you want from the Earned Discount shop. It might be a good idea to check the Earned Discount shop before you bid so you know if you do not win the auction what kind of products you will be able to buy with those spent credits.

 

This is all we could come up with, but if you have any  more ideas as to why some people might not think MadBid is legit, ping them down below in the comments section.

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Daniel Jewell says:

The earned discount isn’t a discount at all, they are ways proportional to the amount of credit already used. Which means what ever the original auction price was is what you pay with the only exception of when you win the auction, should of been more careful and understood it before I put money down. That’s how you make your money, personally I feel conned as I cannot get my remaking credit back

Evelina says:

Hi Daniel,

The Earned Discount is in place so if you do not win an auction you can still use the full value of the money spent to buy anything from the website. For example, if you spent £50 bidding in an iphone auction and you didn’t win, you can take that £50 and buy some headphones or anything else from the Earned Discount store.

bill says:

Surely this cannot be legitimately called an auction. There is no gambling involved in a proper auction sale. This appears to be an expensive gambling site.

david says:

Very clever system, seems its legal to. Almost worth the 50 quid I got ripped off for. Lesson learnt, I will be sure to tell everyone I can how clever you are.

sibel says:

Please remember about Earned Discount functionality thanks to it you can get your money worth even if you haven’t won any auction

sibel says:

According to appropriate regulatory bodies in countries MadBid operate its not gambling. The argument is simple, even if you don’t win any auction you dont lose because money is being returned to you in form of e-vaucher. On top of that its purely skill based bidding system.

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