www.telebid.com

pauldono

I would urge people to be very wary of this web site. It purports to offer opportunities for bargains but it is in fact a very cynical gambling site. As someone who has studied psychology for a few years the whole operation is designed to elicit as much money from you as possible. It's revenue must be staggering. Most people will end up spending money without obtaining the product they have bidded for. If/when they do succeed I would say the eventual cost actually exceeds their original intended budget - that's what make this web site actually very manipulative. It is ostensibly for gambling and not for shopping. Like the uncle who lived until he was 100 but smoked like a trouper there will always be exceptions and there will be occasional bargains. Like previous writers I have looked closely as the behaviour of some bidders and I would be very keen to see how this is regulated. The patterns of bids appear to be quite bizarre with large amounts of money bid without any gain at the end of it. This is not an auction - this is a gambling process.

wisemen

i think its definitely a site for the gambler.

robfosters

Please dont think I am trying to promote the site at all, but as people have been saying, you need to look at it from a gambling perspective.

Now, there is a fixed price auction now http://www.telebid.com/auction/canon-eos-450d-dslr-ef-s-18-55mm-lens/76584.html

Call the price £40, plus tenner del..£50. A saving of £630 off RRP

Say you bid 20 times (quite a bit). Thats £10 worth of bids. And maybe you win the item. That £10 has won you £630 in savings. If you was to try and win that in one go in the betting shop, you would need to find a 60+/1 shot and lay a tenner. Stats prove that these odds horses only win once out of every 500 races (often more than that!). I think the odds are far better on Telebid than other forms of gambling. Look at Gala bingo. How much do people do on that. Thats all about luck and feathering the gala groups nests, but no-one picks on them.

As with all gambling, only risk what you can afford to lose. That way it can be a fun experience with possibly some good results.
I have one regret about Telebid. And thats that I did'nt think of it first :mad:

wisemen

i have been following this thread for quite a while and realised that people arent happy with it and have abandoned it.

i understand why people hate it so much.

it requires time as well as money, and ofcourse some luck.

I live in the states, and frankly i would like to give it a go.
why? cos i love poker and other casino games, and this gives the same ride if not more.

soolin

wiseman, please refer to the following rule:

EXCHANGING PERSONAL DETAILS

Hi, Martin’s asked me to post this in these circumstances: For legal reasons I have to discourage swapping, buying and selling on the forum (please see this rule). While it can be a very useful way of saving money it relies on a certain amount of trust between members and as such can cause problems (and has in the past). If you have any questions about this policy please email [EMAIL="%20abuse@moneysavingexpert.com"]abuse@moneysavingexpert.com[/EMAIL].

wisemen

soolin wrote: »

wiseman, please refer to the following rule:

EXCHANGING PERSONAL DETAILS

Hi, Martin’s asked me to post this in these circumstances: For legal reasons I have to discourage swapping, buying and selling on the forum (please see this rule). While it can be a very useful way of saving money it relies on a certain amount of trust between members and as such can cause problems (and has in the past). If you have any questions about this policy please email [EMAIL="%20abuse@moneysavingexpert.com"]abuse@moneysavingexpert.com[/EMAIL].

Dont worry, i wont post something like this again, if u dont want.

soolin

Of course you are exchanging details, how else can you use someone elses account unless they supply you with details?

The post will be removed by abuse at some point, but meanwhile you might want to remove it yourself.

jonniboi

Anglingman wrote: »

mojam55, don't be confused by the price displayed. This auction was probably fixed price or 100% off. As such the purchase price is MUCH MUCH lower than the current bid price. It is Telebids way of encouraging more and more bids.

In the end Telebid and the winning bidder will both be happy having made considerable savings/profit at the expense of all the losing bidders. The concepts is very simple but very effective as it taps into peoples greed and in built desire for a "bargin". I have no problems with the concept of the site, you just have to be very fortunate to actually win an auction

quote i have won quite a few things on telebid ive spent £ 320 on bids and final price payment and for that have won 2 x nintendo wiis 1 x laptop , and a remote for a playstation 3 happy days sold them on ebay for £ 630

mugglesquop

mojam55 wrote: »

Just seen an advert for Telebid and thought I would pay it a visit since I am an experienced ebay seller.

Was stunned at the first auction I viewed.

A Panasonic widescreen TV with a current bid price of £1741.95 this could be purchased from any reputable online retailer for around £1100.

I can see why someone might invest a couple of quid trying to bid on something that would made less than its market value but why on earth would anyone still be bidding on this.

http://www.telebid.com/auction/panasonic-viera-42-full-hd-ready-plasma-/53007.html

Alex

Fixed price £98.00

jay25mcr

I agree about the Gambling and Not auction point.

This is clearly not an auction site and to actually win an item you have to be prepared to spend some money with the risk of losing everything.

I have watched the workings of this site for some time and have noticed that the so called BidButler system wins 9 times out of 10 which forces me to question why people still use Single bids against a BidButler as again 99% of the time you will just end up wasting the single bid.

Personally i'm suprised how far and how much people will spend to get a "bargain".

Example:

Telebid offers FreeBid vouchers in their "Auction" in increments of 50, 150 and 300 FreeBids.

I watched an "Auction" for 300 FreeBids and when it ended, suprise suprise. The person who used the BidButler won.

Now thats fine except for the fact that a 300 Bid voucher normally retails at £150 and the person who won this "Auction" paid over £200 in Bids.

Now to work this out we have to see how much the Voucher went for. £189 was the finishing bid i think.

£189 / 7 (price the item increases each time a bid is placed) = 2700 Bids placed.

2700 bids at 50p a bid = £1350 from all the people who bid in this "Auction".

So thats £1200 profit to Telebid for "Auctioning" an item instead of just selling it for the normal price.

£200 of bids from the winner is 400 bids so the other hard to comprehend thing from this is why would a person bid for 300 FreeBids with 400 of their Paid Bids because at the end of the day they have lost £50 (100bids).

Now i dont really know if there are "insiders" working for telebid, just bidding to keep the single bidders bidding which of course is illegal but what i do know is that if your looking for a bargain then Telebid is definately not the site for that.

However if you have money to burn and are a compulsive gambler then telebid is a great way to lose a LOT of money very quickly with nothing to show for it.

I hope this review helps.