Telebid Watch

rastaman25
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#1
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http://www.telebid.com

Anyone any experience with this website? Any successful bidders?
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gyrase
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Actually, this looks like a good site. Im going to bid for something and let u know in a couple days time cheers
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AYE
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Best legal scam ever. Trust me dont bother unless you have a lot of time to waste. I looked at for a while and found that its very difficult to win anything.
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PinkMobilePhone
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my husband has won a blue ray player from there for £9 + P&P
(plus £20 worth of bids)
It took a long time to be delivered though - a month in fact.

but then he blew £400 trying to win a ps3, silly man.
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misswilliams
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(Original post by PinkMobilePhone)
my husband has won a blue ray player from there for £9 + P&P
(plus £20 worth of bids)
It took a long time to be delivered though - a month in fact.

but then he blew £400 trying to win a ps3, silly man.
Woah you pay to bid then?
And he spent £400 on bids... but didn't even get the PS3?

Jesus.
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BlackHawk
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The fact that if another bid comes in then the time increases is crap
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PinkMobilePhone
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(Original post by misswilliams)
Woah you pay to bid then?
And he spent £400 on bids... but didn't even get the PS3?

Jesus.
yeh its 50p per bid, and each bid increases the price of the item by 7p and add seconds to the clock.

He didn't win the ps3 no - I was so pissed off with him. He'd got to £50 worth of bids spent you see, then started getting desperate and figured he couldn't stop after losing £50 - so he carried on bidding trying to redeem himself and ended up spending another £350 and eventually didn't win the item.

He learnt his lesson.
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misswilliams
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(Original post by PinkMobilePhone)
yeh its 50p per bid, and each bid increases the price of the item by 7p and add seconds to the clock.

He didn't win the ps3 no - I was so pissed off with him. He'd got to £50 worth of bids spent you see, then started getting desperate and figured he couldn't stop after losing £50 - so he carried on bidding trying to redeem himself and ended up spending another £350 and eventually didn't win the item.

He learnt his lesson.
And that's how they make their money. Sounds like a very dodgy site to me, you need to know how it works to make the best of it.
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rastaman25
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(Original post by gyrase)
Actually, this looks like a good site. Im going to bid for something and let u know in a couple days time cheers
Go for it!
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rastaman25
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(Original post by PinkMobilePhone)
my husband has won a blue ray player from there for £9 + P&P
(plus £20 worth of bids)
It took a long time to be delivered though - a month in fact.

but then he blew £400 trying to win a ps3, silly man.
Lol, bet you weren't impressed. Has he steered clear of the site since then?
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ch0c0h01ic
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(Original post by PinkMobilePhone)
yeh its 50p per bid, and each bid increases the price of the item by 7p and add seconds to the clock.
From a quick look at the site it can be worse than that, paying 50p to increase the bid by 1p? Ebay is a far cheaper alternative, this company is raking it in.
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PinkMobilePhone
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(Original post by rastaman25)
Lol, bet you weren't impressed. Has he steered clear of the site since then?
lol yeh he has

actually we're working on setting a similar website up ourselves (with a few major differences but I don't really want to say too much at the moment). If you can't beat em, join em.

I'll keep you posted
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gyrase
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Before putting it of for the bid price, Id like to say; nothing comes easy, especially things like a ps3. Im sorry, but what do u expect? Do go online outbid some bidders and win a £400 ps3 for £60? you have to put some effort and risk in you know, to win something ... lose something.

If anyones going to use this website (as I am), keep at it, be very smart, look at the price at which the last offer went for previous auction on product and start bidding from then, use bidbuyer and write back.
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AYE
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(Original post by PinkMobilePhone)
lol yeh he has

actually we're working on setting a similar website up ourselves (with a few major differences but I don't really want to say too much at the moment). If you can't beat em, join em.

I'll keep you posted
hehe so was my friend, you have competition! Nah I think he'll lose interest after finding that it isnt as easy as he thinks
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PinkMobilePhone
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(Original post by AYE)
hehe so was my friend, you have competition! Nah I think he'll lose interest after finding that it isnt as easy as he thinks
yeh it's not easy - the trouble we've been going through trying to ascertain whether it requires a gambling license or not has been ridiculous lol
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Makaveli_The_Don
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Lol don't do this, they will take all your money!!!
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AYE
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(Original post by PinkMobilePhone)
yeh it's not easy - the trouble we've been going through trying to ascertain whether it requires a gambling license or not has been ridiculous lol
I think it may not need one, as you're sort of "buying" the product. Anyway good luck with everything, I'll stay away from your site though
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PinkMobilePhone
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(Original post by AYE)
I think it may not need one, as you're sort of "buying" the product. Anyway good luck with everything, I'll stay away from your site though
yeh we think it falls outside of gambling law but we have an appointment with the solicitor on Monday to make sure, because the gambling commission don't even seem to be 100% sure themselves.
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PinkMobilePhone
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#19
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(Original post by Andymc)
Okay, apologies for the slight thread necromancy.

Firstly, if you are thinking of using this site, DON'T.

As some people have already pointed out, the real money is made from bids. I just went on recently ended auctions, and found a Nintendo Wii with some other stuff for £77.35. It offers a 'normal' price of £179.99 (£180) for comparison.

Each bid raises the price by 7p. Therefore the total number of bids was 1105. At 50p each, these cost just over £550. Add this to the final price and you get around £630. The 'general public' between them paid £630 for a £180 item.

Note that bids were supposed to raise the price by 10p originally, but in the alternative 'international auction' they only went up by 7p. 'Coincidentally', this leads to more bids for the same finishing price. Thus, all auctions are now of the 7p variety.

In case it still isn't obvious how they make their money, one of their varients is a 'fixed price' auction. In this, no matter what the final bid comes to, the winner only pays a 'fixed price', far less than the item is worth. The effect of this? Well, in 'normal' auctions, there is a natural limit. No-one is going to bid past the worth of the item. If an item is worth £100, this effectively limits how long the auction will go on for, since no-one would be bidding to £200 for the item. But with a fixed-price auction, this barrier is gone. People will continue to bid until they get bored, or run out of bids. Telebid are laughing all the way to the bank.

Again, a specific example would come in useful here. In the background, I've got a fixed-price coffee machine open, supposedly worth £1200 or so. The fixed price is £39. Current level of bidding? £540.75. 7725 bids. Over £3850 spent in bids. To facilitate this wasting of money, they have a 'BidButler' feature that automatically bids up to a certain price. Two Butlers just raised the price from £510 to £540 or something, where one of the people set their limit. Over 400 bids made, automatically. That's £200 down the drain. Remember no-one is ever going to pay this £540. "This auction will end latest on 17 Aug 2008 at 6:50pm" - plenty of time for more people to throw away their 50ps.

To take the fixed-price idea to an extreme, some items are 100% off. These are often the 'free bids' auctions. So lots of people waste their own bids (ironically a '300 Free Bids' auction went to £29.12, or 416 bids) that cost real money. Then these 'free bids' are used in future auctions against people using real (paid) bids. Even an item "£40 cash" cost a total of £159 in bids...

Of course, sometimes it doesn't go to plan. I've just found a £500 cash offer that only cost £376.50 in bids. Although one person put in 348 of the 753 total bids, using the ever-so-handy BidButler. A supposedly £330 sat-nav in a 'penny auction' (each bid raises by 1p) went for 44p, which is only £22 in bids. Although one being bid on at the moment is on £18.46, or over £900 of bids.

The only thing that looks 'safe' to bid on are watches. These seem to go for nowhere near their 'guide' price. Of guide, their guide prices might be phoney in the first place, I'm afraid I don't know enough about watches to judge.

So to recap, Telebid make their money from bids, not from the cost of the item. It really is no better than a lottery. Some people strike lucky and get something for next-to-nothing at their first attempt. Other people spend hundreds of pounds and go home potless. In the long term, you're bound to lose, though. Unless you like watches.
I take it you've been bitten
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gyrase
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#20
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I'm quite late in reviewing the website after its recommendation, all the same I will do so.

So from when this thread was started, I started using telebid a month ago. Firstly it is true that odds are well against you and you have to buy bids in advance (50p per bid) I started out small and bought 50 bids for £25. After some careful bidding I won a 50 bids voucher (yes, you can win vouchers in sizes of 50 and 300) so it may have been luck but it was my day. (I used the bidbutler for those who are interested.)
Next I tried a couple of other auctions before running out of bids. I then bought 300 bids for £150, subsequently I won £40. (you can win money in £40 and £500, the £160 is now an ikea £160 voucher)
Lastly before running out of bids and nearly giving up on the site, I was very lucky to win a 300 bids voucher.

After a plateu period, I bidded in a nailbiter auction (bid butlers arent allowed in these) and won a nokia 3310 which has since been delivered to me. So by this time I was convinced that the site is for real. I bought £500 worth of bids and won a nokia n95. Considering that I spent that much, it would work out the same as buying the n95 at retail price. Today I've won three £40 auctions giving me £120. I think that says alot about the validity of the site.

On the whole, it is gambling, but careful bidding and knowing the people who bid very highly to avoid them will get you the deals.
(Original post by Andymc)
So to recap, Telebid make their money from bids, not from the cost of the item. It really is no better than a lottery. Some people strike lucky and get something for next-to-nothing at their first attempt. Other people spend hundreds of pounds and go home potless. In the long term, you're bound to lose, though. Unless you like watches.
You forgot the macbook air thats on there right now That guys spent way over what its worth but theres really no point backing away now is there? I mean Id rather get the product in the end than to lose that much money and give up...

Also if your curious, Im 'Vraja' on there, u can check if Im lying or not. :p:
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