Swoopo Auctions

BlueScrote

BlueScrote

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Has anyone ever used this website?

http://www.swoopo.com/

I saw it on the front page ad on this site, so I am kind of thinking that it is a legitimate, but It is a bidding site, and some of the prices seem a little bit too good to be true.

Has anyone shopped there?

EDIT: I found this interview and it explains some of it. It seems kind of shady to me still...
 
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I also had the same question, but like I suspected it is too good to be true... I decided to google it for any reviews and came across this little tidbit of information:

http://technologizer.com/2008/09/17/is-swoopo-nothing-more-than-a-well-designed-gimmick/

These deals sound too good to be true to you? In a way they are. Users cannot just simply register and bid. Instead once registered a user must fill his or her account with prepaid bids. Yes, that’s right, you pay to bid. Each bid costs the user $1, and can be purchased in packs of 20, 50, 100, 200, and 500. There is no discount for buying larger packs.

Here’s where it begins to get gimmicky, and Swoopo begins to lose me. Before the first bid, you’re already financially into the whole thing for as much as $500. What’s worse is that if you lose an auction, you also lose all the bids you placed, and thus have essentially given the site free money for just giving you the privilege to bid on the item.

Thus once you start bidding, you have a vested financial interest in winning that item. While the winner is likely to get a very good deal, especially on bigger items where the final price is hundreds below retail (even when you add the cost of bidding), those who lost could have spent quite a bit just to bid, and are likely doing so because of the money they need to spend to win.
Click to expand...
 
okay FEDS step into this one

Here’s where it begins to get gimmicky, and Swoopo begins to lose me. Before the first bid, you’re already financially into the whole thing for as much as $500. What’s worse is that if you lose an auction, you also lose all the bids you placed, and thus have essentially given the site free money for just giving you the privilege to bid on the item.

Thus once you start bidding, you have a vested financial interest in winning that item. While the winner is likely to get a very good deal, especially on bigger items where the final price is hundreds below retail (even when you add the cost of bidding), those who lost could have spent quite a bit just to bid, and are likely doing so because of the money they need to spend to win.


Sounds like gambling to me. since if you lose you lose all of your cash. You have no idea who is really bidding against you so they can make up SHELL Accounts and just outbid you to Steal your cash

if you got your bids back i would join but #$#$# a site that says you lose an auction you lose cash



STAY FAR AWAY FROM THIS SCAM SITE
 
[quote name='Renaissance 2K']Sounds to me like a sniping contest more than anything else.[/quote]


Not even that. When I looked at the site, it appears the countdown resets to 15 seconds everytime a new bid is placed, to insure that the price keeps rising.
 
[quote name='sbarbermisier']Not even that. When I looked at the site, it appears the countdown resets to 15 seconds everytime a new bid is placed, to insure that the price keeps rising.[/QUOTE]

just heard about this site on the extremetech podcast. Each bid actually increases the time left by 15 seconds, not reset it. I'm looking at a DS Lite at a price of $20 go from 5 seconds left to 10 minutes left in a matter of seconds.

This site is crazy! lol. I would never try it though.
 
I Just watched a PS3 go for 188.25. That's 1255 bids at .75 a bid totaling..... $941.25 Just for the bids. That plus the $188.25 comes to $1129.50 swoopo just got paid to sell a PS3, Before shipping! I want to purchase a few bids and lurk around maybe catch an auction at its end. Only thing I'm concerned with is the shell accounts mentioned earlier, there's no way to know if you're bidding against live people or not. I'm really upset that I didn't think of this first, I wonder how long it'll last.
 
Still don't get this? Don't you still have to be somewhat lucky to be the one on top at the end of the auction? And if you lose you are out some dough. But the more dough you spend the better chance you can win, as long as you don't lose a crap load in the process. Sounds like Vegas.

Interesting concept though. They are basically a retailer like Buy.com, not an auction site. As Yoda would say, "running a legal scam, they are".

Some interesting reading: http://www.thegoont.com/swoopo-scam-alerts-are-ringing/
 
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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 put it up twice just because I think it needs to be seen.
 
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