telebid.com

Newest Review: ... costs the bidder 50p. To be able to bid you first have to create an account and buy credit from which the cost of subsequent bids is then deducted. As the time left decreases, so people put in bids (though why so many bid so early beats me). When the time remaining gets below 1 minute, bids start adding time. The amount is a bit of a mystery but if several bids come in at the same time (happens a lot) the time left for the "auction" to run increases, sometimes by many minutes. Second catch. There is often feverish activity in the last few seconds which result in sometimes huge increases in the time remaining. Hard to expl... more

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telebid.com: Is this a con or a genuine opportunity to get bargains? (722 words)
by - written on 06/06/08 (Very useful, 888 readings)
Rating:

This has got to be either the biggest scam I have seen in a long time or the sort of idea that makes me wish I'd thought of it. The way it works is quite complicated (so pay attention at the back). It is basically an auction site, but with a difference. Each item that is put up, and you name it, just about everything that can be shipped in a parcel seems to be available, the start price is 7p and each time a bid is placed, the price increases by 7p. This is where the first difference occurs, bidders do not state the price they want to pay, they just bid and the site take care of the increment. Each item shows the time the ... Read the complete review

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