What's the deal with this Swoopo site being advertised

It is too good to be true. You have to pay 1 dollar for each time you bid on an item and you don't get your money back if you don't win an item. Each bid adds 20 seconds to the clock which gives other people more time to outbid you, and since the other people bidding have already invested their own cash into bidding on these items they have strong incentive to continue bidding. Swoopo makes a nice profit on a lot of these items. and the winner may end up paying retail/above retail for an item once you factor in all the bids he made on the item.
 
[quote name='doodofdoods']It is too good to be true. You have to pay 1 dollar for each time you bid on an item and you don't get your money back if you don't win an item. Each bid adds 20 seconds to the clock which gives other people more time to outbid you, and since the other people bidding have already invested their own cash into bidding on these items they have strong incentive to continue bidding. Swoopo makes a nice profit on a lot of these items. and the winner may end up paying retail/above retail for an item once you factor in all the bids he made on the item.[/quote]

Add to that, that you don't place the ammount you want to bid, but that is a set value for everyone (with the value rising .1 cent only to maybe .15 cent some) and this sounds like the scam of all times. Recently they sold a CPU for 156.53, the bid would rise one cent only each bid...so for each bid place they made a dollar out of one cent. For each dollar of the bid...they made 100 dollars!!! So in the end they made a cool 15,650 dollars out of the CPU O_O
 
The site seems like a scam to me. I just watched someone bid 385($288.75) times on a PS3 and the final price on the PS3 was $156.90. Totaling $445.65.
Another auction for Lips on the Xbox 360 which came out to $179.49 on a $69.99 Game. They placed 146 Bids at .75 a bid.
And Guitar Hero World tour, one person bid 385 times($288.75) and won, Final price $156.90, total $445.65.

Swoopo either has very ignorant customers or bots running up the bids. I don't see why anyone would pay $445 for Guitar Hero.
The site screams scam to me.
What's going on Cheapy? Swoopo? really?
 
I wonder if people are actually getting the items they bid on as well, the whole thing could be a scam to make money, although it would probably be quickly taken down if this was the case, but you never know.
 
[quote name='SaraAB']I wonder if people are actually getting the items they bid on as well, the whole thing could be a scam to make money, although it would probably be quickly taken down if this was the case, but you never know.[/quote]

There's no real reason to do that, though. Once you count the bid prices, they're already making money hand over fist. (And apparently they've been around for a while.)

[quote name='Flawed Cleric']The site seems like a scam to me. I just watched someone bid 385($288.75) times on a PS3 and the final price on the PS3 was $156.90. Totaling $445.65.
Another auction for Lips on the Xbox 360 which came out to $179.49 on a $69.99 Game. They placed 146 Bids at .75 a bid.
And Guitar Hero World tour, one person bid 385 times($288.75) and won, Final price $156.90, total $445.65.

Swoopo either has very ignorant customers or bots running up the bids. I don't see why anyone would pay $445 for Guitar Hero.
The site screams scam to me.
What's going on Cheapy? Swoopo? really?[/quote]

Now, shill bidding is a concern, what with the sellers owning the site. Though I'm more likely to assume
1) Throwing good money after bad.
2) Automatic bidding up to a certain point. They have an auto bid system, and someone could easily get in over their head if they, for instance, set a max bid of $10 on a penny auction without thinking the math through...
 
On second look I don't think they need bots considering the auctions are universal across the board. The auctions we bid on in the states here are the same exact auctions bid on in Europe where the Mighty dollar ain't so mighty.
 
Hi all didnt no where to post this, seen this thread on swoopo so thought probably best place to start. Came across a new one which havent seen before , its got an apple macbook air and wii which quite fancy. Rather than prices going up they go down???? There called wicaboo.com and the website seems to be good, also on facebook and twitter.
Read something the other day about shill bidding on penny auctions so not sure, this doesnt seem to be a penny auction???
 
What made me laugh even more than the Swoopo ads were the 'copy pro' ones, which advertised showing you how to copy virtually ANY game. Yet piracy talk on CAG is illegal.

Oops. Guess someone missed that one, huh?
 
EHh CAG is probably like gametz where they use google ad's. They have no control over WHAT ad's are shown, just the categories.
 
[quote name='IAmTheCheapestGamer']What made me laugh even more than the Swoopo ads were the 'copy pro' ones, which advertised showing you how to copy virtually ANY game. Yet piracy talk on CAG is illegal.

Oops. Guess someone missed that one, huh?[/QUOTE]

Sites such as this, Digital Press, Sega-16, and the rest are all run by hypocrisy. Learn to live with it.

We can't talk about piracy, return threads always see someone screaming "FRAUD!" but as long as the ad banner pays out, it can advertise whatever.
 
You must log in or register to reply here.
bread's done
Back
Top