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Swoopo had a great idea for an auction, let users pay to bid, leaving the winner to save plenty on a winning auction. However in the process, Swoopo seems like a scam, making users pay for each bid, making Swoopo tons of money, leaving the winner with a small discount.
How Swoopo Auctions Work
A user bids and the price increases. At the same time, when a bid is received, time is added to the bidding clock. The time runs out when no new bids are received. In the end, any losers who bid on the item and didn’t win lose their money, and the winner still has to pay for the item. The result? The losers subsidize the winner and Swoopo make out big.
Swoopo already has sites in Spain and Germany doing quite well. While you could win, making Swoopo not entirely a scam, keep in mind that it is like gambling. If you don’t win, you lose your cash.
Check at Swoopo at Swoopo.com
January 15th, 2009 at 11:50 am
I just stumbled on to a swoopo-like page http://www.bidonetwo.com has any of you been there or know something about it?
June 2nd, 2009 at 7:38 am
have to admit i used to be skeptical of a company that could sell a laptop for £15. However, having analized the principles swoopo use i came to the conclusion that at increments of $0.5 per bid they make a profit even at such a low price, so that should be all right I suppose.
actually i even came across the resembling site, that is likely to be younger than swoopo. As far as guessed that is why their price for a bid is even lower – just $0.05.
Has anybody participated in auctions on luckberry.com?
i’d like to know whether everything is ok with them
June 3rd, 2009 at 2:33 am
Swoopo is a pretty genius idea imo as far as a business model. Get people to pay for every bid, continually increasing auction times with each bid as well the shear competitive nature of people in general really helps drive their revenues.
As for Luckberry.. it seems to be reliable. I’ve tried it several times, they have suchlike rules and offer decent items..
i’m more determined than ever!
their young age turns out to be pre-eminence in this case. the fewer participants bid, the more chances of winning everybody has! close reasoning, isn’t it?;-)
i succeeded in winning lcd 65′ for eur 107 and saved eur 300, so i’m mightily pleased!! soon i gonna spend the left bids trying to win xbox for my son
ps. by the way no problems with delivery occured