MadBid Closes Its Doors

Where In The World Is Madbid?

Madbid users around the globe have been wondering and asking themselves what happened to the longtime U.K.-based penny auction site Madbid?

Madbid was founded in 2008 and owned by parent company Marcandi Ltd, which itself is wholly owned by Jersey-registered firm Keyword Group Ltd. In 2009, raised approximately $6 million in venture capital money from Atomico to launch Madbid throughout Europe. In addition to the United Kingdom, MadBid operated websites in these nine other European countries: Austria, Germany, Ireland, Italy, France, Netherlands, Poland, Spain, and Turkey. Madbid also had auction sites in Australia, India, and the United States.

Back in 2016, MadBid’s Americans and Canadian users were informed that Madbid had “paused its operations in the United States.” Absent the normally colorful homepage showing off multiple simultaneously occurring live auctions was the following popup message on a solid light gray background:

madbid-has-paused-us-operations

MadBid.com Has Paused Operations in the United States

That was it. No further explanation provided. After establishing U.S. operations just two year years earlier with a huge splash, Europe’s largest penny auction site, left with a whimper. Some surmised that Madbid’s failure in the States was a result of misreading the American market, while others believed the company had financially over extended themselves by expanding too quickly. Perhaps neither explanation was correct …

On June 28, 2018, Madbid users across the Atlantic learned that their favorite penny auction website went into administration (something akin to Chapter 11 in the United States). The nail in the coffin occurred when Europe’s highest court ruled against Madbid in a tax dispute, as reported in the Courthouse News Service article UK Prevails in Tax Dispute With Penny-Auction Site Madbid.

Ultimately, it appears that Madbid’s demise resulted from its inability to pay the additional and significant taxes imposed by the EU court. Their business model was never setup to account for these massive taxes. American and Canadian penny auction players may find comfort knowing that the circumstances under which Madbid closed its doors are significantly different circumstances to those on this side of the Atlantic. Specifically, respective tax laws and interpretations by courts thereof.

While certainly there have been other penny auction sites that have come and gone, aside from Madbid and Beezid, most have been much smaller startups. All is not doom and gloom in the world of penny auctions … far from it! Two long running giants in the space — QuiBids and DealDash seem to be strong as ever. Quibids continues to auction many name brand items and gift cards and DealDash average 100+ simultaneous auctions daily.

So let’s close (no pun intended) on a positive note. The screenshot below shows the live auctions taking place at this very moment (November 6, 2018 at 5:15 pm ET) on dealdash.com that includes many, very awesome automobiles!

DealDash Live Auctions including cars!

DealDash Live Auctions With Many Automobiles | 11-6-2018 @ 5:15pm ET


Happy Bidding fellow Bid-Ninjas.

Remember it’s Election Day, so if you haven’t done so yet … GO VOTE!!!!!!

Win a $50 Amazon, iTunes, or Target Gift Card for the Holidays

Win a $50 Gift Card for Amazon, iTunes, and Target

The holidays are just around the corner, so we thought why not create an opportunity to win something special! That’s why we’re giving away $150 in gift cards, starting today.

Win a $50 Amazon, iTunes, or Target Gift Card for the Holidays

Bid-Ninja is giving away $150 worth of gift cards!

Our giveaway requires no purchase! While many penny auctions sites, such as DealDash, QuiBids, MadBid UK, and PrimaBids, auction off plenty of gift cards, they require you to use valuable bids in order to win. Well, not here! For this special giveaway all you need to do is enter to have a chance to win:

$50 Amazon, iTunes, or Target Gift Card

Enter for a Chance to Win $50 Amazon, iTunes, or Target Gift Card

Who knows … You could be one of three lucky winners and get have a $50 Amazon, iTunes, or Target gift card to spend on holiday gift shopping! And to make things easy here’s all you have to do.

Click Here to enter your name and email (so we can contact you when a winner is chosen).

It’s that easy!

And remember, sharing is caring. When you share with your friends for them to sign up, you’ll earn more chances to win. The more friends you get to sign up, the greater your chance you could buy them a nice gift AND still have some money for yourself when you win one of the gift cards.

Get started today by entering to win now. Remember, it’s free to enter. No bids required! No purchase required!

Wishing You a Happy, Healthy, & Safe Holiday Season

The Bid-Ninja Team

 

Gift-Card Friendly Penny Auction Site

Are you looking for more GIFT CARD AUCTIONS?

We hear from many of our users that they wish penny auction websites auctioned more GIFT CARDS!

Well, this brand new penny auction site does just that. Currently (October 19, 2017 @ 12:15 PM EST), there are gift cards from Amazon, Gap, Nike, Panera, Burger King, up for auction.  See for yourself below…

QuiBids Wall of Auctions

Since there are fewer competitors than the well-established sites, you’ll have chances to pick up some easy wins while there aren’t thousands of power bidders to compete against! Check out this new “gift-card friendly” site here: https://bid-ninja.com/brand-new-penny-auction-site/.

Fewer Competitors On NEW Penny Auction Site – Comes with Guarantee

Bid-Ninja users can’t seem to get enough of this new penny auction site. Although Bid-Ninja doesn’t currently support this site (our current supported sites are DealDash, QuiBids, and MadBid UK), the response has been so overwhelming that we are considering including this site in a future software update. Please continue to provide us with your valuable feedback and let us know if you’d like us to begin supporting this penny auction site in a future version of Bid-Ninja.

We’re pretty excited to tell you about this site because, like you, we love penny auctions and the opportunity to get a great deal! Not only are there great deals to be had, the products being auctioned are name brands such as Amazon, Samsung, Coleman, Omaha Steaks, Bushnell, Panera, and many more.

This brand new site offers both – has fewer competitors so there aren’t thousands of power bidders to compete against (yet)! As history shows us, the first year of a new penny auction’s existence is when many great deals can be had.

They’re offering a guaranteed first win with bids from your first bid pack purchase and all auctions always refund all bids used by the winning bidder. That’s right, if you win an auction (not just your first auction, but all auctions), you get all the bids you used to win that auction credited back to your account!

We at Bid-Ninja have spoken personally with the owners of this site, have personally used the site, and can unequivocally vouch for its legitimacy.

 

QuiBids Reviews are Plentiful, But if You Want a Real Review with Real Info, Look Here

There are a lot of new people looking for a review of QuiBids as they are on the upswing with a ton of growth and new users arriving daily.  The public penny auction stats Bid-Ninja shows for QuiBids (along with the other biggest names in penny auctions) has seen a tremendous amount of new incoming data.  Our leaderboard is constantly changing and there are so many auctions with new names showing as the winner.  Compare this to QuiBids where it seems that there are just a handful of the same winners lately and the choice of where to spend your money on bids is clear.

With this huge influx of bidders and new interest, a lot of people are looking for a review of QuiBids because they want to be sure that it’s not a scam and/or if they’ll actually be able to win some of the auctions for the low prices they see in the advertisements for QuiBids like the one below.

We here at Bid-Ninja pride ourselves on being able to help the penny auction players of the world win more auctions by bringing the best information to them (and we’ve been doing so for years).  There is no site or person out there with more data on penny auctions than us, and we can tell you unequivocally that QuiBids is one of the very best sites to play on and you really can win auctions for name brand goods & electronics for pennies on the dollar…but don’t expect it to happen every time and without a little practice.

We are constantly getting tickets & emails from new users asking us if QuiBids (along with QuiBids, MadBid, the now defunct Beezid, etc) are legitimate.  They of course are, however there are a few things you need to make sure you don’t do if you’re a newcomer to the “penny auction” scene, such as:

  • Think You’ll Win Every Time

    While playing on QuiBids is fun and exciting (as it should be), you have to be prepared to lose some auctions…but that’s part of the fun too!  Don’t let a loss make you think you can’t win or that it’s some kind of elaborate setup.

  • Bid On Too Many Auctions with Too Few Bids

    A lot of people make the mistake of placing one or two bids on one auction, don’t win and then instead of sticking it out on that auction bounce over to another auction, place one or two bids without winning and then once again run off to another…and continue to repeat this cycle.  This is effectively giving away your bids.  To win on QuiBids or any of the other penny auction sites, you’ll need to stick it out for the long haul.  Part of winning means showing your opponents that you’re not going to give up!

  • This isn’t just a shameless plug for Bid-Ninja…you really do need to know who you’re playing against and what type of bidder they are.  If you’re in an auction against 10 people who have all won a thousand auctions each and you just showed up to place that first shiny bid of yours, you can bet your bottom dollar (or penny) that they know that and they’re going to be trying to intimidate you.  If you’re just starting out make sure you know who you’re playing against and try to pick appropriate auctions.

  • Lose an Auction and Quit

    We see this constantly…people arrive at QuiBids, buy the smallest available bid pack, pick an auction and bid their heart out and lose…then quit QuiBids and penny auction playing altogether.  If that’s all your budget allows for doing, then it’s probably best to keep on moving.  Winning is a numbers game and you’ll absolutely have to play on multiple auctions to not only get the hang of it, but to win an auction.  Losing one single auction and then quitting altogether doesn’t make QuiBids or any other site a scam, you simply didn’t play enough!

QuiBids Wall of Auctions

So yes, our “review” of QuiBids is really simple…they are one of the top notch penny auction sites to play on.  They have a huge selection, a very loyal following of users, great customer service, fast delivery and so on.  There isn’t really anything negative we have to say about them.  Most of the “bad reviews” you’ll find for QuiBids have to do with users who were making one of the mistakes in our list above.  Bid-Ninja wouldn’t have all of the data we do for them if there weren’t thousands of very happy customers winning great merchandise for low prices every single day.

New Penny Auction Site on the Block, Your Opportunity for Great Deals at a Steal

We’re pretty excited about this one, and you should be too! We know that since you’re on our list, you love penny auctions and the opportunity to get a great deal.

This brand new site offers both – there aren’t thousands of power bidders to compete against (yet) so scoring a big win is not only easier, but you can enjoy penny auctions the way they’re supposed to be enjoyed!

They’re offering a guaranteed first win with bids from your first bid pack purchase and all auctions always refund all bids used by the winning bidder. That’s right, if you win an auction (not just your first auction, but all auctions), you get all the bids you used to win that auction credited back to your account!

We’ve spoken personally with the owners, have personally used the site and can unequivocally vouch for their legitimacy.