Hi,
just want to update my "trial" experience with "www.mybid.com.my"
("planned" loss about RM100, won nothing).
I noticed that eg. Hotlink reload RM150, I see past bids some "bidder" won at RM0.06 or RM0.16 etc. so I thought give it a try.
Bid first time, the price jack-up to RM0.56
Bid 2nd time today, I put bid butler at min. RM0.03 and max. price RM0.60 and no.of bids 28 since the highest EVER price for Hotlink reload RM150 I saw (I didn't check all 3300 auctions la, just the past few pages) was Rm0.56 (which is when I bid on it last time and lost, due to run out of bids) so I thought sure win (basically every 2nd bid is mine).
Guess what? Auction ended at RM0.63!!!! What a @#$*@#$(* coincidence! previous action ends like for RM0.06 or so but when I go in, it goes up like crazy and I lose in the end eventhough I had put up more fight (and auto-bids!) than the pathetic RM0.06 winner!
Another example, I put bid butler on a camera and start min. price at RM1.60 (and prepared lots of bids ready to fire) since I was monitoring the bids consistently kept going up. Guess what?? It ended at RM1.58!!! What the ..... is that?? Just ONE MORE bidder to bid and I would have gone in (at least give a good fight, I might have lost in the end as well though).
Seems like the computer is no fair-play and exploits every "real" bidders bid butler (same system mah....it knows exactly all the conditions we set so it can calculate the highest/best chance of winning, nothing to stop them what).
To me, 99.99% confirmed it's a scam (as most of you already suspected) and they're just auto phantom bidders, no way to tell who they are (excuse: data privacy!) and no forum to express our view or get feedback from mybid.com.my. I think, they are just ripping genuine ppl off by buying "useless", theoretical bids. Truth is probably, you'll be 99.9%-100% outbid by phantom or auto-bidder that is either their own staff or auto-program bidder, so it costs of course them nothing if they buy bids (is their own company mah...). IF you won, could have been a bug in the program or delay in the last few seconds (connection/network factors etc.) or previously was a mybid staff bidder with human error (who probably is out of job)...
No way to verify who are the so-called winners. I think those super low won auctions like RM0.06 for RM150 hotlink or some gadget for several sen it just "For show" and attract greedy ppl (like me) to buy bids and go for it to try out (which I did). So, the trick worked (for them).
Unfortunately (for them), we live in internet age where "Real" ppl can air their views, share their info. I'll never buy bids from them again. The proof-of-concept of mybid.com.my to me has failed (ie.I've not won something that seemed to be so easy/cheap in past auctions). Everything I enter to bid, the price strangely goes up 10 or 20 times higher compared to same item at previous auction (which I didn't enter).
Strange? Better believe it....
Mybid? Nobid....
Cheers and hope it helps (take it as my free review of mybid.com.my)...
I never really planned to invest hundreds or thousands of ringgit to get that I-phone for RM72 or Hotlink RM150 reload for RM0.06.....hehe, I was just testing them!

Conclusion:
- Bids that ended with unbelievably crazy low price (like few Rm0.06 sen for camera, reloads, phones, bids package etc.) are just for SHOW to attract potential real bidders (exploitation of human greed).
- Bids that ended up very high (eg.I-phone for RM73+), chances are there's real bidder involved and the system (or "phantom") bidders are all out to stop real bidder from winning (ie.check the bidder's bids balance, auto-bid settings, etc.).
- 99.9% can't win anything
- Got 3 free bids to use when register (makes it look genuine, another human greed trap). After that usually will top-up bids.
- site says winners can send their picture with their won items and they'll get free like 30 bids. But, so far I checked two days ago not a single picture of real bidders?

just wonder why...(maybe they dun wan to put picture of their computer...?). Update: just checked their "Winners" link and it now (surprise surprise! Are they checking lowyat.forum as well now?) got 5-7 pictures of ppl holding their "wins" (one guy looks not so excited, maybe he lost thousands of bucks before won his slim drive?)
- Even if the company can theoretically actually cover the cost by the the number of bids (eg.RM73 = 7300 bids x RM1.48 = RM10,804 - RM3k I-phone cost = phenomenal RM7k profit!!) when they let final bidder win, still can outbid you with "phantom" bidder and let real bidder lose...(that would further suggest there are phantom bids amongst 7300 bids, as they don't earn money. Only bids from genuine bidders who have to buy them will earn money for the company).
- I won't recommend to my friends
- Can this be reported to authorities (eg. SSI, since the company is must be registered with them)?
This post has been edited by e740: Jan 19 2010, 06:31 PM