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swoopo.com, nice scam they run!

Old 12-10-08, 06:38 PM
  #1  
root11
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swoopo.com, nice scam they run!

I've been thinking about buying a macbook pro for a while and saw an ad for an auction site called swoopo. Took a look and realized how much money could be "made" out on the interwebs. It only costs $.75 to place a bid, and the price would go up by .01 and the auction extends for 15 seconds. They had macbook pros sell for a couple hundred $'s, but for every $1 price increase they are making $75, so if a macbook goes for $100, they are bringing in $7,500 (plus the winning bid).

yowza!
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Old 12-10-08, 07:11 PM
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I think your math is a bit fuzzy. Here is a much better explanation of how the site works. BTW, I have never heard of this before now and just googled swoopo to get the site I am linking too.

https://technologizer.com/2008/09/17/...igned-gimmick/

EDIT: After doing a bit more research, I have to agree with the OP. The site has the potential to be a MAJOR scam, esp. on the penny auctions the OP addresses.
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Old 12-10-08, 07:47 PM
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I thought my math was on, but fuzzy math is my specialty as I work in accounting

This is from the site on a vaio auction (also a penny auction)
"It costs $0.75 to place a bid.
Each bid raises the auction price by $0.01"
10,000 bids would increase the price to 100.00 (10,000 pennies) and would generate 7,500 (10,000 * .75) in fees....

but I've been wrong before (but just once...)

Just checked out the link, and you even get to prepay for bids! what a deal.... some of the comments are funny!
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Old 12-10-08, 08:05 PM
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Ridiculous. I could almost see it if it cost 75 cents for a bid of whatever price, but seventy five cents per one cent bid? They aren't even trying to look legit.
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Old 12-11-08, 11:44 AM
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Originally Posted by x136 View Post
Ridiculous. I could almost see it if it cost 75 cents for a bid of whatever price, but seventy five cents per one cent bid? They aren't even trying to look legit.
Oh, yeah, they are trying to look legit! They told you up front on the site how much it costs to bid. . . You have been informed and warned!

You know the saying "There is a sucker born every minute. . . "
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Old 12-11-08, 12:29 PM
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Don't you hate it when somebody thinks up that stuff first?
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Old 12-11-08, 12:30 PM
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I would say it is the ideal place to snipe, but it automatically extends the auction to allow the next bidder in... so it is continual and extended sniping.

Someone might get a macbook for $100, but they have more than made their profit before the price gets that high.
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Old 12-11-08, 12:32 PM
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Originally Posted by Little Darwin View Post
I would say it is the ideal place to snipe, but it automatically extends the auction to allow the next bidder in... so it is continual and extended sniping.

Someone might get a macbook for $100, but they have more than made their profit before the price gets that high.
If you set your snipe to only place one bid maybe. If you are using a snipe program, and it bids 10 times for you, and you lose, you just cost yourself $10 to lose an auction. I would not ever use a pay per bid site to buy an auction item.
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Originally Posted by colorider View Post
Phobias are for irrational fears. Fear of junk ripping badgers is perfectly rational. Those things are nasty.
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