Telebid is actually an extremely clever selling system. It basically consists of a group of people bidding for the chance to buy a product at a heavily discounted rate, either at a low fixed price or at 100% off. Whoever bids last, wins. But after each bid a maximum of 30 seconds is added to the remaining time, allowing another person the chance to bid. So whilst an auction may have 10 seconds remaining, it could actually drag on for another 7 hours.
In order to bid you need to first buy "bids" or credits, at 50p each. This is why they can sell a £1000 plus tv for nothing but postage and packaging costs. For every £7 that the price bid reaches, they have made £50 in purchased credits. So while the winner may pay nothing, there may have in fact been in excess of £2000 worth of bidding credits used.
Now, whilst you may well be lucky enough to win an auction and get that tv for "free" you need to bear in mind the fact that each bidding credit you used cost 50p. Moreover you need to remember that if you lose, and you have used say 50 credits on that auction, you have in fact spent £25 on nothing at all.
If you are able to square this with yourself however, and more to the point manage to grab some seriously expensive kit for peanuts (even if you have spent £50 in the process), then this site undoubtedly can deliver some excellent savings.
More details
Content Update
Often
Security & Privacy Statement
Good
Search Facility
Average
Bid Tracking Function
Good
Ability to Customise
Satisfactory
Customer Service Support
Satisfactory
Client Number / Order Number
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