Any one try Swoopo Yet?

[Nomo]

Of all places I caught the ad banner here on AH. So it can't be bad right?
I'm just curious if any one has any insight or experience.
Not much of an Ebayer myself but the concept caught my eye.
Basically, unlike Ebay, you need to purchase bids to have the right to bid on items that are on the surface ridiculously low.

http://www.swoopo.com/

Scam or No?

Personally I don't think it's a scam so much as a pretty smart business venture.

 

[Alex2507]

I've never heard of it.
If they rip you off I'm definitely not going to try them out.

 

[10010011]

Hmmm.... So you have to pay 75 cents a bid and each bid is only 15 cents?

That could add up quick and you still have to pay even if you lose the auction.

Have fun, I think I will pass.

 

[Nomo]

Oh, I haven't tried it myself.
I was wondering if any one else had any experience with it.
I'm certainly not looking to be the test monkey.

 

[majorloser]

I was just watching it. It seems like a scam to me. Everytime there's a new bid the timer resets to 30 seconds or 15 seconds. There could be no end to bidding since the auction never expires.

It's gambling at it's finest.

 

[Adam]

It seems like a scam to me. Everytime there's a new bid the timer resets to 30 seconds or 15 seconds. There could be no end to bidding since the auction never expires.

That's explained in the instructions, though. If a bid comes in within the last 20 seconds, they will extend the auction by a few seconds. A counter to the eBay sniping, I suppose.

I can't say if it's a scam, but I won't be doing it (well, until others here do ). I bet they are making money, though. Last night, they had a Wii auction that was ending. The price was around $30, but since every bid only increases the price by $0.15 and costs $0.75 to do, that's not bad. Plus, everyone kept increasing the bid at the end - probably thinking, "I can get it for $35...I can get it", along with everyone else. I stopped watching, but there's no question that the place made more than $250 for that $250 Wii.

 

[Nomo]

You have to admit, it's a pretty good idea as a business.
While there might be a chance for great deals as a bidder, they will probably be hard to come by without luck and/or a great deal of time on your hands.