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Thread: Swoopo

  1. #26
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    Quote Originally Posted by f2f View Post
    you kinda suck at advertizing.
    hmm my job says otherwise

  2. #27
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    http://answers.yahoo.com/question/in...3155857AAkfe83

    Leaving aside all this "auction" talk, the game works like this. Each game has a prize, and a clock that counts downward to zero. Think of it like this. Everyone who wants to play the game (or the bidders, if you will) is, in a virtual sense, putting dollar bills in a stack, since each "chance" (or "bid" although that term is misleading) costs $1.

    When the clock reaches zero, whoever put the last $1 on the stack wins the item, but each time a dollar is placed on the stack, 15 seconds is added to the clock. It's easy to see this game makes a lot of money for the house, or Swoopo. Each bid is like a raffle ticket. You are paying $1 for the small chance that no one else will put $1 on top of it before time expires.

    Keep in mind the players, or "bidders," can use an automated bidder called bid butler. When multiple people use these, they can instantly bid back and forth dozens or hundreds of times, adding minutes or hours to the clock. Swoopo tells you that this is a "strategy" and sad thing is that people seem to be buying it.

  3. #28
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    Quote Originally Posted by Pinner View Post
    http://answers.yahoo.com/question/in...3155857AAkfe83

    Leaving aside all this "auction" talk, the game works like this. Each game has a prize, and a clock that counts downward to zero. Think of it like this. Everyone who wants to play the game (or the bidders, if you will) is, in a virtual sense, putting dollar bills in a stack, since each "chance" (or "bid" although that term is misleading) costs $1.

    When the clock reaches zero, whoever put the last $1 on the stack wins the item, but each time a dollar is placed on the stack, 15 seconds is added to the clock. It's easy to see this game makes a lot of money for the house, or Swoopo. Each bid is like a raffle ticket. You are paying $1 for the small chance that no one else will put $1 on top of it before time expires.

    Keep in mind the players, or "bidders," can use an automated bidder called bid butler. When multiple people use these, they can instantly bid back and forth dozens or hundreds of times, adding minutes or hours to the clock. Swoopo tells you that this is a "strategy" and sad thing is that people seem to be buying it.
    Their user metrics are up, but may have peaked out. I wouldn't say it is necessarily as simple as the above illustrates, later bids have a better chance, especially as the price approaches 35% off (where they say prices trend towards). If you are disciplined and only bid around that range, you may be able to swing a couple of dillz in the short run, long run...you are toast. Either way, the house wins.

    My buddies and I thought of starting a "lowest unique bid" auction site, but ethically, it is just dirty. Very similar concept, but a bit different. Let's say the auction is for a 50k sports car. You open it up for sealed bids, charging $1/bid...people can bid as often as they want. The catch is, the LOWEST unique bid wins. If you bid $.02, and no one else does, you win the 50k car for $.02. Essentially, you are selling lottery tickets. There is a real estate company in the UK that actually sells homes through this model. House makes a killing, but owners can't get a lot of sleep at night...

    EDIT: The fact they are selling packs of bids is both disgusting and genius. They are selling items that cost 0 to produce, for over 200 dollars. Amazing...
    Last edited by cranked; 03-04-2009 at 11:50 PM.
    "I do look like the Arrow shirt man, I did lace up my skates professionally, and I did do a fabulous job finishing my muffin."

  4. #29
    Join Date
    Dec 2004
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    1,038
    I'll admit that I fell into their trap a couple of weeks ago. I spent a couple of days looking over the auctions figuring that I could jump in at the right moment and swipe the deal. I bought 50 bids for just under $40. I spent 2 bids on a couple of longshot items and I'll drop the rest of them on a nice camera. If I win it'll be great, but at this point I'm considering the money a loss. At best, this is a gambling site, but it could be a downright scam if it's proven that employees are betting against customers.

    Save your money and either buy from a mag here, ebay, or craigslist.
    I think that the human mind is unique among all other forms of life in that it can spontaneously create unique thoughts and provide unique behaviors. Instead of rewarding that uniqueness we, for some reason probably because of cultural and social necessity, we chastise unique behavior and reward conformity.

  5. #30
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    Jan 2006
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    Quote Originally Posted by mud View Post
    If it's .75 cents on every bid for the 1 cent auctions, an Apple laptop with 2872 bids brings in $2,154 plus the $255.29 the winning bidder paid plus x=.75 number of bids to win.

    http://www.swoopo.com/auction/apple-...op/139701.html

    So Swoopo sells a $1,200 laptop for around $2,409.

    Does that sound right?
    No shit, there's a Samsung TV that went for $254.68 on a penny auction... that's 25,467 bids costing $19,100 to purchase. The TV's MSRP is $1700, and who knows how much swoopo actually pays for it. Still, the allure of flipping these "cheap" goods is a strong one, I'll admit.

    The swoopo people have simply got to be rolling in it. I just wish I had thought of it first.

  6. #31
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    can't we just duplicate the business model and make another scam? People will be looking to thin the heard, better the odds if you will. Lets do it.

  7. #32
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    Nov 2005
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    Providence RI
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    so, has anyone here, or has anyone you know of actually won an item on swoopo? The possible deals on the D90 are tickling my trigger finger but Im SURE this has to be a total scam.

  8. #33
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    Dec 2005
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    I like that people are gambling for the chance to gamble some more on the 300 bid voucher things.

  9. #34
    Join Date
    Dec 2006
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    Aspen
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    I'm late to the game on this, but I'm watching auctions on Swoopo and BidsTick right now. Here's my question. I've got inventory to sell where my cost is well below retail. Why not be an affiliate of these sites? If they buy from me for less than retail, it lowers their risk (not that it's at all high for them), and increases their profit margin (which is astronomical already).

    Further....here's an idea to make it less of a "gambling" site. Tell me what you think. Let's say I have travel credits at hotel rooms all over the place in inventory. Or airline tickets, or cruises or lift tickets...something like that. I sell them normally for 80% of retail and I paid about 40% of retail for them. What if the winning bidder wins a vacation package, and EVERY bidder wins a certificate to buy my vacation package at 20% off of retail? So if I had something worth $100 (and I had a lot of them), and I profit at $80....I give every bidder the right to save $20. Now if a bidder enters 20 bids and loses they still can break even....kind of. Would this take the "gambling" out of it?
    "Why Pinto?"

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