Swoopo

[Devin Catron]

has anyone ever heard of this site? the products are redicuously low. has anyone ever bought anything from this site? http://www.swoopo.com/

 

[Michael Rankin]

looks like a hardcore scam to me

 

[Brian Boston]

Swoopo is like a raffle. One person get a brand-new item at a bargain, while everyone else gets nothing. Here's how it works: Swoopo purchases and provides the merchandise, then sells bids to you at $0.75 each. Each bid increases the price of the item by $0.15. Unlike eBay auctions which end at a set time, each bid extends the auction's end time, so there is no last-second "sniping". The auction could end in the next 10 seconds or not for another 10 hours; there's no way to know.

Here's an example: take a $1000 MSRP HDTV (which Swoopo paid $750 for wholesale). After 1,000 bids at $0.75 each, Swoopo has made back what they paid for the TV. The current bid amount, however, is $1000 * $0.15, or only $150. Who wouldn't think a brand-new $1000 HDTV for $150 is a great bargain? Bidding will continue higher in most auctions, ensuring Swoopo of a profit. One person gets a bargain (double that $150 amount - $300 is still a bargain to the sole winner, while Swoopo now takes in $1,500 in bids), while the rest of the people get nothing for the bids they spent $0.75 each on.

Assuming Swoopo has no automated bidders driving the price higher, it's a "fair" system. The more you bid, the more you spend, but the more likely you are to win.

Swoopo even auctions bids, where you spend $0.75 per bid to get free bids, so there may be ways to take advantage of the site: perhaps buy free bids, use them to overpower other bidders and buy items relatively cheaply, then turn them around on eBay for a profit.

Just be aware of the rules before you play the game. The most likely outcome is that you'll get nothing for your money.

Sounds kinda legit but I would never mess with it.

 

[Kieran Mayhew]

seriously brian just dont ive looked into it before and one minute there was a bid for a PS3 at £13 and then about ten minutes later it was up to £90, and all of the people who bidded before that lost the money that they spent on bids.
So most of the stuff doesnt end up cheap anyway and you lose a lot of money in the process

 

[Devin Catron]

so would it even be worth it to bid on it......i watched some stuff sell really cheap

 

[Kieran Mayhew]

seriously there is no point. some stuff goes cheap but even then about 10 different people have already bid for it so the chances of you being the one with the final winning bid(its on a time limit) is random.
dont risk it.