Who's seen snaglo.com?

[NicolasKL]

I can't tell whether the people that came up with this are geniuses or scam artists, and if the people that use it are morons or shrewd shoppers. I'm leaning towards the former in both cases.

I'm looking at their list of ended auctions and you've got things like a 100 dollar apple card that sold for $2.32. The person that won it only bid once so they got a 100 dollar gift card for 75 cents (at most). Add up the bids and they basically sold the gift card for 45 bucks. So they (snaglo) lost money.

But then there's a 8GB iPod touch that sold for $67.98. The person that won it used 215 bids. Even if he only payed .65 a bid (which means he bought 800 dollars in bids at once, which seems nuts), he paid 230 bucks plus shipping for it. Plus shipping. Which if I'm not mistaken is more than retail price. Dumb.

But the company ended up getting over 1100 bids for it, so at .70 a bid they just sold a 200 dollar iPod for about EIGHT HUNDRED DOLLARS. Genius.

 

[Ares]

I have check out the site right now there is a Nikon D3000 10.2MP Digital SLR Camera with Nikon Zoom Lens retail price $550 the highest bid right now is $0.36 something is not right here, either it's a scam or they are auctioning off stolen goods.

 

[NicolasKL]

I have check out the site right now there is a Nikon D3000 10.2MP Digital SLR Camera with Nikon Zoom Lens retail price $550 the highest bid right now is $0.36 something is not right here, either it's a scam or they are auctioning off stolen goods.

Yeah but there's 18 hours left on it and there isn't much incentive to bid at all until the last 30 seconds, because each time you bid it adds 15 seconds to the time and you know you aren't going to win it. The thing is, because of the 15 second add on, an auction that's scheduled to end at 6pm might not end until 10pm. If that camera ends up selling for 100 bucks it'll mean they actually sold it for $3,650 ((($100.00/$0.02 each bid)*0.70 per bid)+$150 sale price). Minus the 75 dollar "value" of the 100 free bids you get with it, so $3,575.

They sell a 500 dollar camera for $3,500, the winner (potentially) gets a 500 dollar camera for 100 bucks, and a bunch of chumps pay part of the 3500 dollars extra in bid fees and end up with nothing.

It really pretty much is a genius system, because it exploits the competitiveness of sniping an auction on eBay, with the desire to get something for super cheap, plus the inherent stupidity of a significant portion of the population.

 

[NicolasKL]

Good lord, some people really are dumber than rocks. I'm watching the iPod Nano bid and there was 15 seconds left on the clock and two people put in bids using the "auto snagger." So the auto snagger bids every time you're outbid, apparently no matter how long is left on the auction, either up to your predetermined price or up to your predetermined amount of bids.

That's okay if you're going up against someone that's bidding manually. There will be 3 seconds left, they'll bid, it'll go up to 18 seconds, your auto snagger will bid, it'll count back down to 3 seconds, they'll bid (if they want to), etc, etc, etc.

But apparently if two people are both using the autosnagger it just keeps bidding for each of them regardless of how much time is left, so I just watched two people bid about 40 times each (costing each of them about 30 bucks), all the while driving the timer up to an extra 20 minutes, ensuring that someone else will come along in the last 15 seconds and snipe it. Dumb.

 

[NicolasKL]

I have check out the site right now there is a Nikon D3000 10.2MP Digital SLR Camera with Nikon Zoom Lens retail price $550 the highest bid right now is $0.36 something is not right here, either it's a scam or they are auctioning off stolen goods.

Lol, if you go to the winners tab and go to the second page you can see the last D3000 that sold. The guy that "won" it paid 65.78. Problem is, it took 741 bids, at around 70 cents per, to win. So he spent about $580 to get a $550 (MSRP) camera.

On page 3 it gets even worse, someone used 752 bids (~500 dollars) to get a 289 dollar Kindle.

I guess the thinking is once you're in for 250 bucks worth of bids it's better to get something worth 300 for 500 rather than nothing for 250.

This concept is just horrible. It's like a carny game multiplied by 10. Once in a while someone gets lucky and gets a deal, if you sit there long enough you can "win" but it'll cost you more than the prize is worth, and the vast majority of people pay their 5 or 10 bucks and end up with nothing.

 

[mickey200]

snaglo

yeah, but most of those people used a lot of bids because they won them from previous auctions or bought a high bid pack. that's why i am going to try the beginner auctions that they started so no one has a lot of free bids to outbid me.

 

[Audioholics]

Scam. Period.

 

[mickey200]

snaglo.com

Those calculations are off. It looks like people spent that much on bids and overpaid but they have specials. sometimes if you win an auction you get your bids back and the higher the package the less you spend. i used bids i used to win a kindle from a previous auction. and yes - my kindle came in the mail 10 days after paying for it. the catch is that I had to keep watching it, you have to do a littlw work to get a $250 item for $50

 

[NicolasKL]

Those calculations are off.

They're not exact, they can't be, but there's no doubt that there are people that are unlucky and end up paying more for an item than it's worth.

It looks like people spent that much on bids and overpaid but they have specials. sometimes if you win an auction you get your bids back and the higher the package the less you spend. i used bids i used to win a kindle from a previous auction. and yes - my kindle came in the mail 10 days after paying for it. the catch is that I had to keep watching it, you have to do a littlw work to get a $250 item for $50

You also have to get lucky, if three other people decide to drop a couple hundred bids each on an item that you've already got a couple hundred bids on, no amount of "work" is going to help you.

 

[Seth=L]

Rule #1, if it sounds too good to be true it probably is. Snaglo is too good to be true.

 

[ten9399]

Snaglo Money Maker.

They make their money selling bids at 65 cents a bid. I think the deal is each bid is good to raise the bid by one cent. Look at how many people bid just on
and auction to buy 30 bid Vouchers. Think thats where they make the money and People don't know how to bid right. Remember this is a very diffrent way to bid on an Auction compared to Ebay. Unless you know how to bid once or twice to win or if you have alot of money to thow-away I would stay away.

 

[gholt]

Rule #1, if it sounds too good to be true it probably is. Snaglo is too good to be true.

I'll modify it " If it sounds too good to be true, it is!!!"

 

[Seth=L]

I'll modify it " If it sounds too good to be true, it is!!!"

Not always, I've had my share of "too good to be true" deals.