A brand new, simple trick has led to thousands of people in India buying the latest gadgets at a fraction of the retail price. Thanks to this new site, having the latest phones and tablets is now a reality without having to spend an arm and a leg.
MadBid are buying a big bulk of the India warehouse closeout and liquidation stock at rock bottom prices and pass on the huge discounts to their customers. This means they can afford to sell brand new iPhone’s for as little as $40 and still make a profit!
Neeraj Mitra paid $90.54 for his brand new iPad 3 mini (name and image have been changed for privacy purposes)
Neeraj Mitra, 29 from Mumbai started using MadBid 2 weeks ago. “I just couldn’t believe it when I won the iPad Mini 3 with Hama accessories, I’d only been bidding for about 5 minutes when the auction ended, I was ‘over the moon’ as they say, I couldn’t stop smiling, I’m still smiling now and will still be smiling tomorrow.”
Because of the way MadBid source their products (mainly liquidation auctions) and the high discounts they want to pass back to their customers, it takes a few weeks for them to get the latest products after the release dates but the prices definitely make up for it. A source working in one of the largest high street retail shops told Daily Times “The new craze is to shop online now. Our shops are getting emptier by the day and competition has turned into a war zone. Savvier shoppers have started using services like MadBid.com and we simply can’t compete with their prices.”
MadBid has become such a threat to mainstream retailers, they are trying to shut the site down. Another source from the same company reported “MadBid.com is a disaster for high street shops and even the major online outlets. The more people who find out about the site the more money retailers will lose. My managers are very worried about this site.”