What about this?

[scrub332]

Looking through the various eBay listings for multimeters and I come across this dodgy looking thing.

http://www.ebay.co.uk/itm/Digital-LCD-Multimeter-Ammeter-Voltmeter-AC-DC-OHM-Circuit-Voltage-Tester-Buzzer-/182072250196?hash=item2a645a0f54:g:uhEAAOSwZG9Wj46q

How bad is it going to be in terms of safety?

[rob77]

at that price it's going to be really bad - basically usable only for small voltages up to 50V max.

[Lightages]

What rob77 said. It is a low priced piece of junk that might work or let you down when you need to depend on it. It will also be unsafe for anything over CAT1.

[JPortici]

aha! i've had the same one since forever. it was the go-to 10€ multimeter for us students back in high school
Same form factor only that it's all yellow (orange-y) and no backlight

[Whales]

By all means go for a cheapie if it's your first meter (I'm assuming).  Just don't use it for anything above 50V, as suggested by Rob.

Later on you can look at better meters.  Until then, get your hands on anything.