Madbid – don’t fall for the hype
Madbid is a penny auction site that claims to save users up to 90 percent off high value items like iPads and cameras.
A Guardian Money investigation, however, suggests that successful buyers can actually end up paying twice the price for goods available on conventional retail sites.
They also found that the same person apparently ‘won’ a Fiat 500 for £193.03 in UK, 193.09EU in Ireland and $193.09 in the US.
Now that’s a hell of a coincidence!!
Madbid may well be a legitimate website, but my advice is to stick to Ebay.