FYI: Swoopo.com; bid @ your own risk

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Sturm2k ( 202 )
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Re: FYI: Swoopo.com; bid @ your own risk

Post by Sturm2k » Wed Jun 09, 2010 3:56 pm

Just wanted to add a note that I notice another website just like this called Quibids. These are not really scam sites. You know what you are getting into before you buy your bids. Do the math before hand. You just have to get really really really lucky. I would rather play the lottery.
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joko12 ( 118 )
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Re: FYI: Swoopo.com; bid @ your own risk

Post by joko12 » Wed Jul 14, 2010 3:37 pm

I have a buddy that uses Beezid and it works but you have to get lucky and be on at weird hours of the day to get anything done. But he has gotten some sweet deals for things that would normally cost a ton of money.

This guy sums it up well too

http://answers.yahoo.com/question/index ... 239AAVEApF

Wag-A-Tail ( 6 )
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Re: FYI: Swoopo.com; bid @ your own risk

Post by Wag-A-Tail » Thu Feb 13, 2014 9:21 pm

Is it the highest bidder or random drawing of the bids? How does it work? It sounds what we describe as being the Chineese auction?

MagickalMemories ( 828 )
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Re: FYI: Swoopo.com; bid @ your own risk

Post by MagickalMemories » Thu Feb 13, 2014 10:03 pm

You pay for bids.
Let's say, hypothetically, you pay $5.00 US for 10 bids.

There's an item, say a camera, that's at $99.50 with 2 minutes left. You want it, so you bid.
The camera is now at $99.51, you have 9 bids remaining, and there is a certain amount of time (say, 3 minutes) added to the auction.
So, now it's $99.51 with 5 minutes remaining.
Now, someone else bids. the price goes up a penny, 3 more minutes are added to the auction time, and that bid you paid $.50 for? It's gone.
Whoever ends up winning the auction has to buy the item at the sale price. So if that camera went for $100, and they put 10 bids into it (at, say, $.50 each), then they're into the camera for $105 US. That's not bad.
On the other hand, to get to $100, that means 10,000 bids (at $.50 or whatever each) were placed on the item. So, the company hosting the item REALLY made their money on all those bids that didn't end up winning the item.

It's a very basic explanation of how it works, but it covers the basics. Make sense?


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