So a buddy of mine (dumbass) tells me how to get awesome deals at a website called swoopo.com. This is my analysis and review....
Swoopo.com is what is called a penny auction site. Basically, you will see auctions there - and at first glance the deals look awesome. 1k cameras going for 20 bucks, 1k laptops going for 20 bucks - and much of the same. And yes, these are legit and actual deals.
Here is how it works:
1. You buy "bids" for 60 cents each. You can buy hundreds at a time, but they cost 60 cents each and this money goes to swoopo.
2. You "bid" by using one of your bids that you bought - and by bidding the bid price goes up by one cent.
3. When anybody bids, time is added to the auction (usually 15 seconds).
4. The auction only ends when the clock hits zero.
So if you go to the completed auctions section - you will see all of the completed auctions - the amount they went for - plus the amount of "bids" that person spent on it. Nikon camera worth 1k went for 24.57 + 58 bids, so this guy bought the camera for 24.57 plus the cost of the bids (58*.60) - so he got a 1k camera for about 60 bucks.
What they dont tell you is how many people LOST money through bids on the item.
The makers of this site are genius. If a camera that costs 1k goes for 25 bucks - that is 2,500 bids at .60 cents each. If it goes for 50 bucks, the site has made 3k in bid fees and 50 bucks for the camera - so they brought in $3,050 for a 1k camera.
The concept preys on all of the worst in human nature. People will just think they will win and they only see the winners - but they dont advertise the losers and how much they lost.
It is pure gambling because there is NO WAY to tell when an auction will end - there is no way to better your odds - and worst of all you could be outbid by a swoopo.com bot - who is just there to increase the bid count.
All in all - it is an incredible concept - but one that is best to be observed from afar.
Anyone have any experiences?
I never met a hater better than me. I am on twitter
So a buddy of mine (dumbass) tells me how to get awesome deals at a website called swoopo.com. This is my analysis and review....
Swoopo.com is what is called a penny auction site. Basically, you will see auctions there - and at first glance the deals look awesome. 1k cameras going for 20 bucks, 1k laptops going for 20 bucks - and much of the same. And yes, these are legit and actual deals.
Here is how it works:
1. You buy "bids" for 60 cents each. You can buy hundreds at a time, but they cost 60 cents each and this money goes to swoopo.
2. You "bid" by using one of your bids that you bought - and by bidding the bid price goes up by one cent.
3. When anybody bids, time is added to the auction (usually 15 seconds).
4. The auction only ends when the clock hits zero.
So if you go to the completed auctions section - you will see all of the completed auctions - the amount they went for - plus the amount of "bids" that person spent on it. Nikon camera worth 1k went for 24.57 + 58 bids, so this guy bought the camera for 24.57 plus the cost of the bids (58*.60) - so he got a 1k camera for about 60 bucks.
What they dont tell you is how many people LOST money through bids on the item.
The makers of this site are genius. If a camera that costs 1k goes for 25 bucks - that is 2,500 bids at .60 cents each. If it goes for 50 bucks, the site has made 3k in bid fees and 50 bucks for the camera - so they brought in $3,050 for a 1k camera.
The concept preys on all of the worst in human nature. People will just think they will win and they only see the winners - but they dont advertise the losers and how much they lost.
It is pure gambling because there is NO WAY to tell when an auction will end - there is no way to better your odds - and worst of all you could be outbid by a swoopo.com bot - who is just there to increase the bid count.
All in all - it is an incredible concept - but one that is best to be observed from afar.
That site would be so easy to "Fix" and scam people, it isn't funny.
I explained how this site worked to the wife last night and the first thing she said was "How do you know if someone really won something or not?"
The worst part is that you could lose Hundreds of Dollars trying to win something that may be impossible to actually win.
The only thing that makes me think it is not fixed is that they have no real reason to do so - other than supreme greed. If you scan the auctions - they are making a KILLING on them. It is silly.
But you are 100% correct - there is no way to tell if they are bidding them up or not.
And your last comment is also 100% correct - you may spend hundreds of dollars trying to win something and YOU NEVER WIN. There are much more winners than losers there - you only see the winnners - but if you pull away the layers of the onion there are tons of losers that support the few winners.
I never met a hater better than me. I am on twitter
That site would be so easy to "Fix" and scam people, it isn't funny.
I explained how this site worked to the wife last night and the first thing she said was "How do you know if someone really won something or not?"
The worst part is that you could lose Hundreds of Dollars trying to win something that may be impossible to actually win.
The only thing that makes me think it is not fixed is that they have no real reason to do so - other than supreme greed. If you scan the auctions - they are making a KILLING on them. It is silly.
But you are 100% correct - there is no way to tell if they are bidding them up or not.
And your last comment is also 100% correct - you may spend hundreds of dollars trying to win something and YOU NEVER WIN. There are much more winners than losers there - you only see the winnners - but if you pull away the layers of the onion there are tons of losers that support the few winners.
The only advantage to this is that there are no deadbeat bidders who don't pay after the auction ends.
When I first heard of this site and checked it out, the first thing that came to my mind was a raffle scam. Take 10,000 Raffle tickets being sold for 3$ each for a new car that is worth 25K. The only catch is that the winner (Someone who is in on it) has already been chosen before the tickets are sold, so it doesn't matter if they sell all 10,000 tickets or not.
I know it isn't exactly the same, but the concept is similar. These raffle scams go on all of the time.
But yeah, like you said, that is definitely a form of Gambling.
The only advantage to this is that there are no deadbeat bidders who don't pay after the auction ends.
When I first heard of this site and checked it out, the first thing that came to my mind was a raffle scam. Take 10,000 Raffle tickets being sold for 3$ each for a new car that is worth 25K. The only catch is that the winner (Someone who is in on it) has already been chosen before the tickets are sold, so it doesn't matter if they sell all 10,000 tickets or not.
I know it isn't exactly the same, but the concept is similar. These raffle scams go on all of the time.
But yeah, like you said, that is definitely a form of Gambling.
I checked it out and sniffed out the scam from a mile away, you have to pay for bids as you mentioned and their price increment increase is so minute that you can spend a ton of dough just bidding and not win.
Calculate how much each bid cost, discount it a little because they give some deals, but not that great..then see the end price of the item and add the bid cost to the total...no real discount at all and unless you are LAST on the list you pay for nothing.
I checked it out and sniffed out the scam from a mile away, you have to pay for bids as you mentioned and their price increment increase is so minute that you can spend a ton of dough just bidding and not win.
Calculate how much each bid cost, discount it a little because they give some deals, but not that great..then see the end price of the item and add the bid cost to the total...no real discount at all and unless you are LAST on the list you pay for nothing.
Swoopo claims that they supposedly lose money on 70% of their auctions and only make money from the other 30%
Sounds like some of the people on here with their records.
Here is something worth taking a look at.
"i checked this out over christmas and it seems you really have to be in it to win it even if they are legit here were 2 that show the high and the low... https://www.swoopo.com/auction/sha...37667.html Sharp Aquos LC42D65U 42-Inch 1080p LCD HDTV Penny Auction so the guy won it for $6.31 if legit. but here https://www.swoopo.com/auction/phi...36318.html the Philips 42PFL5603D/27 42-Inch 1080p LCD HDTV Fixed price $119.00 bid up to $1,104.60 while the winner only paid $119 + $4.50 in bids. somebody bid 7364 times(1104.60/15) @$0.75 each = $5523 + the $119 fixed price making this tv sell for $5642.... and i don't see how they won with only 6 bids out of 7364."
Swoopo claims that they supposedly lose money on 70% of their auctions and only make money from the other 30%
Sounds like some of the people on here with their records.
Here is something worth taking a look at.
"i checked this out over christmas and it seems you really have to be in it to win it even if they are legit here were 2 that show the high and the low... https://www.swoopo.com/auction/sha...37667.html Sharp Aquos LC42D65U 42-Inch 1080p LCD HDTV Penny Auction so the guy won it for $6.31 if legit. but here https://www.swoopo.com/auction/phi...36318.html the Philips 42PFL5603D/27 42-Inch 1080p LCD HDTV Fixed price $119.00 bid up to $1,104.60 while the winner only paid $119 + $4.50 in bids. somebody bid 7364 times(1104.60/15) @$0.75 each = $5523 + the $119 fixed price making this tv sell for $5642.... and i don't see how they won with only 6 bids out of 7364."
So some guys can just sit back with $50 in bids and wait until some idiots spend Hundreds of dollars in bids just to get them in the final seconds?
They actually have bid butlers that will bid for you so you can sleep at night.
Yes - but you never know when to jump in with your $50 in bids. Is it now, or in an hour? It is all just a guess.
Your post above is astute - who the hell is the first person to bid on this stuff?
I would love to win that Nikon D90 camera - have watched it for the last 3 days and it goes for anywhere between 10 bucks and 55 bucks - but in that range you have 4,500 different bids! If you bought 100 bids (spent 60 bucks) - where in that 4,500 bids would you put your 100 bids - it is impossible.
Go to the completed auctions section - to the newbie it looks like awesome deals - until you do the math of the losers.....
I never met a hater better than me. I am on twitter
So some guys can just sit back with $50 in bids and wait until some idiots spend Hundreds of dollars in bids just to get them in the final seconds?
They actually have bid butlers that will bid for you so you can sleep at night.
Yes - but you never know when to jump in with your $50 in bids. Is it now, or in an hour? It is all just a guess.
Your post above is astute - who the hell is the first person to bid on this stuff?
I would love to win that Nikon D90 camera - have watched it for the last 3 days and it goes for anywhere between 10 bucks and 55 bucks - but in that range you have 4,500 different bids! If you bought 100 bids (spent 60 bucks) - where in that 4,500 bids would you put your 100 bids - it is impossible.
Go to the completed auctions section - to the newbie it looks like awesome deals - until you do the math of the losers.....
I just came across one of these sites and I spent maybe 5-10 minutes looking around but couldn't figure out where they made their money. Nice write-up, that is a genius idea.
Anyone in here know how to build a professional-looking website? We should make something happen
I just came across one of these sites and I spent maybe 5-10 minutes looking around but couldn't figure out where they made their money. Nice write-up, that is a genius idea.
Anyone in here know how to build a professional-looking website? We should make something happen
So the current bid is at $37.56!!!! That means the winner pays 37 + the amount of bids he has spent + 10 shipping!! For a fucking 50 dollar toaster at walmart!
And the website made a fucking fortune on this toaster!
I never met a hater better than me. I am on twitter
So the current bid is at $37.56!!!! That means the winner pays 37 + the amount of bids he has spent + 10 shipping!! For a fucking 50 dollar toaster at walmart!
And the website made a fucking fortune on this toaster!
Let me understand they show a timer of when the auction is scheduled to end but add time for each bid received so you actually have no idea when the auction ends is that correct?
Let me understand they show a timer of when the auction is scheduled to end but add time for each bid received so you actually have no idea when the auction ends is that correct?
Let me understand they show a timer of when the auction is scheduled to end but add time for each bid received so you actually have no idea when the auction ends is that correct?
That is exactly correct.
This is why it is gambling.
You have ZERO clue when an auction is going to end.
I never met a hater better than me. I am on twitter
Let me understand they show a timer of when the auction is scheduled to end but add time for each bid received so you actually have no idea when the auction ends is that correct?
That is exactly correct.
This is why it is gambling.
You have ZERO clue when an auction is going to end.
How it should work is the first 10 people to bid on an item are the only ones that can bid for the duration of the auction.
I also noticed that if you win your first auction, they give you all of your bids back for that auction.
But I would like to see VaughnK's name up there as a winner with only one bid on a 40" Sony LCD TV after 30 people have spent Over 6K combined in bids.
How it should work is the first 10 people to bid on an item are the only ones that can bid for the duration of the auction.
I also noticed that if you win your first auction, they give you all of your bids back for that auction.
But I would like to see VaughnK's name up there as a winner with only one bid on a 40" Sony LCD TV after 30 people have spent Over 6K combined in bids.
There is another site called bidcactus.com that is doing the same thing except their bids cost 75 cents each. Friend of mine told me about it but I agree that it is so random, lucky, or fraudulant. I stayed away.
There is another site called bidcactus.com that is doing the same thing except their bids cost 75 cents each. Friend of mine told me about it but I agree that it is so random, lucky, or fraudulant. I stayed away.
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