How's this possible?

[JayLenochiniMac]

http://www.swoopo.com/ended-auction...BLCjC2BEfwEf&gclid=CN2uvcnZ-5oCFQ6jagodtH1GdQ

 

[modular]

not sure if that is real or just a "fake" auction to try and trick people to sign up, i mean after all, who would bid $2.05 on a macbook and not bid $5 just to win it.

the way that site works is that everybody who bids on an item has to pay the price they bid EVEN IF THEY LOSE the auction. So you place a $50 bid for an ipod along with 10 other people. swoop gets $500 and one person wins the ipod for $51. The problem with this method is everyone who bids $50 will keep bidding up to the price of the ipod, sometimes more (figuring, hey I'm already paying $200 for the bid, it's better to pay more than what the ipod is worth than to lose my bid money).


i'd stay away from that site unless you here of a reliable positive testimonial

 

[JCastro]

I wanna say that it sounds like a scam. I would not bid and lose thats for sure. Paying even if someone else gets the item?!

 

[ucfgrad93]

i'd stay away from that site unless you here of a reliable positive testimonial

I'd stay away from that site regardless of what you hear.

 

[imthekuni]

I believe that is one of those websites where you purchase pre-paid dollar amounts that you can use to bid on items. Now the catch is whatever you bid on an item you do not get back. So if someone bids 10 bucks and I bid 15 and then they win by bidding another 6, I would not get my 15 dollars back...

 

[DTphonehome]

Scam scam scam, stay away!

 

[mdgolom]

I just checked out the website. They charge you $.75 each time you bid. Makes me wonder if you could ever win. Teases you into bidding a couple of times, and then at the last second magically someone else (them) jumps in to win.

 

[thegoldenmackid]

Swoopo: The Definitive Thread
This thread is going to be all about Swoopo.

 

[appleguy123]

swoopo is not a scam but it is a ripoff they make there money buy charging you $1 per bid...

 

[tingly]

That about sums it up. You can spend thousands on bids and never win.

 

[tjwaido]

Swoopo Scam

It is so sad that Swoopo's Google ads are coming up on MacRumor's site. If it looks too good to be true, than it is. Stay away! There is a reason why Swoopo does not post any open feedback on their site--they don't want their fraud to be exposed!

Swoopo has a current "Penny" auction for the 27" iMac at $39.99. This means 3999 bids have been placed. It costs bidders $1.00 per bid. Bidders just paid Swoopo (3999 bids x $1.00) $3,999 for an item that costs $1,699.99. The auction is still going strong, and in the end Swoopo still gets paid for the final price.

I assume Swoopo is placing bids on their own auction or having bidders from around the world bid on a single auction to add time to keep the auctions going. Everyone loses with Swoopo.

Hopefully, people Google this forum and are saved from losing their money to Swoopo evil.

Keywords: Swoopo Apple LED iMac M952LL/A 27-Inch Desktop Scam

 

[belvdr]

Bids don't necessarily cost $1. You pay $1 per bid, but in some auctions, the bid may cost 60 cents. Either way, it's an easy way to lose a lot of cash.

 

[DoNoHarm]

misrepresenting this as an auction should be illegal.

 

[smirking]

Stay away from Swoopo! Stay far away!

 

[tjwaido]

Swoopo Fraud should be illegal!

This is a crime.

I just saw a 27" Apple iMac $0.02 auction (fraud) go for $500 on Swoopo, which means 25,000 bids were placed to reach that $500 mark, and at $0.60 per bid means Swoopo earned $15,000 just in bids and came away with $13,500 in profit.

This is quite simply outrageous and preys on the weak minded. I feel bad for anyone who uses Swoopo, even if they feel like they won.

 

[175170]

AAAARRRRGGGHHHHH! Y'all stole my thread!
Check out my gosh-darned definitive thread! Come on!