telebid.com

[Southwell]

Anyone every used the site? Whats the catch if it goes for peanuts?

[losixxx]

NO CATCH!

This auction site differs from eBay in three critical ways:

1. You don't necessarily have to pay the price you bid. Some auctions are "fixed price", i.e. you pay say £59.99 however high the bids go. Some are even "100% discount", where all you pay is the P&P, however high the bids go.

2. The auction doesn't end at a fixed time. Every time a bid is received, some more time is added to the countdown timer, to give other people a chance to make a counter-bid. Obviously this means that auctions can go on and on.

3. Bidding isn't free. Each bid costs 50p.

So let's look at that Canon 400D twin-lens kit (http://www.telebid.com/auktion/canon-eos-400d-dz-kit-18-55mm-and-55-200/49600.html?from=13). The winning bid was £28.42. However it was a "fixed price" auction so the winner actually paid £78.80 incl P&P. I believe that's genuine. Note also that, since bids go up in 7p increments, there must have been 406 bids, which would have cost £203.00. So the auction site actually received £281.80 for the camera kit - still a bit short of what they'd have liked, I'm sure, but not the absolute giveaway it seems like..

Here's another one though. This Canon 450D plus kit lens (http://www.telebid.com/auction/canon-eos-450d-dslr-ef-s-18-55mm-lens/81629.html) was in a fixed price auction, so the winner paid £48.80 incl P&P. But the final "bid" was £381.15, so there were 5,445 bids costing a total of £2,722.50. Hence the auction site actually received £2,771.30 for the camera kit!!!!! Nice work if you can get it!

GENIUS IDEA!!

[Southwell]

So if you win you pay for each bid, and even if you dont win you pay for your bids? That could be expensive! Cheers for the answer though chris.

[Belsten]

I used it once and to be honest felt it was a bit cack

[nick oliver]

So correct me if im wrong,
If im bididng on a item.. paying for each bid.. everytime i bid until i win it!

and if its a fixed price auction, i pay the fixed price plus p&p and thats it? but do i have to pay the end of auction price too??

And the company get the money i pay for the fixed price, plus all the money from other peoples bids that have been placed..?

Nick.

[losixxx]

you pay the fixed price, so if the auction goes to say £3k but the fixed price is £24.99 you pay

£24.99 + p&p + 50p for each bid you entered

the seller gets your £24.99 + p&p + 50p for however many bids the acution in-total has received (some items i have looked at the seller has received over 2k for something thats about £300 in most shops....

you can even bid on bundles of bids which i think is :woot: