The Wholesale Forums

[Boodeny]

I'm sorry for having similar views as you....
And by the way, didnt even read your post. Why would u bother copying you

[uhafmail]

Woah didnt mean to offend but it is a conversation, it is not a long thread, saves you time repeating what other members have already said

[Lorro]

Originally Posted by uhafmail

How can you say its not a scam without having a scooby?

Every bid adds 15 seconds to the timer, so everyone is putting last minute bids in so normally PS3s sell for £50 ish. starting at £0.01 (each bid adds £0.07 to the bid price) which is over 700 bids. 700 bids x 50p + £50 for the console = £400 for a console that costs £270 max...

I'm sure the idea is not to bid 700 times against yourself

From what I saw people bid against each other for the right to buy the item at whatever price (eg: £50) and in general the winners will drop say 50-300 bids to win so.....

You watch a playstation 3 auction go fom £0 to £45

You decide to get involved at £45 pounds and will bid a max of 100 times

Some bugger has the same idea and will proberly bid against you 50 times or so

*inset bidding war here

The bugger finally drops out after his 50 bids (cost him £25 not to buy a ps3!!!!!)

You bid 51 times in total, clock hits 0 you win! w00t!

By spending £25.50 you bought the right to by a ps3 @ £52.07

Total cost of you ps3 inc vat £77.57 not inc. delivery. 28.43% of r.r.p.


Personally though I think it's bollocks. If you don't win you just spent alot of money on absoluty nouthing.

Think about the machanics behind it mate, it's gambling with crap odds.
You could spend £300 (600 bids) on the laptop of your dreams and someone can bid just once and negate your 600 bids!

The only people makeing money is swoopo (and quight alot of it at that, work out the money they make on a fixed price auction).

[LewisSellers]

Who ever thought of the idea behind Telebid (now Swoopo) is an absolute genius!!

People can win items for £30.00, and if you manage to win something, hats off to you!

Most people will put £25.00 worth of bids in, then give up. They must make a fortune on each item that goes on.

They even sell bids for cash, and they go up to ridiculous amounts of money!

That business is a license to print money!!

[Buzz73]

A friend of mine won 2 PS3's in 1 day, both costing him around £80-£90 each after all the costs of the bids etc. The final sell price worked out at around £30-£40. Yeah i think he got a bit lucky but i also think that you have to be a bit more committed with how much cash youre going to gamble, if youre budget is a tenner and you find you do not win anything then dont be surprised! I reckon you need focus, dedication & cash to get it right.

Swoopo originated in Germany (formerly Telebid) and most of their followers and also successful winners come from Germany also so its going to be hard to compete really because they know the system. Swoopo is a money making machine from what it seems but there are still lots of people picking up bargains & Swoopo are obviously raking it in so hats off to them, I wish I had thought of this idea.

[Lorro]

I was thinking about this too, I think perhaps it might be doable if you but a ton of bids and use them to win free bid vouchers which you then reinvest between more free bid vouchers and auctions................hmm................:rolley es:

[mauropozzi]

I agree about it: it not seems a scam .

[LewisSellers]

To be fair, you have to be lucky to win an auction on there.

I suppose you can sit there, empty your wallet buying bids, and then press the button continuously for hours and hope you win something, but I'm not really sure if theres a technique you can use.

Obviously, if you win something, chances are you'll get it really cheap, but theres got to be a big element of luck there.

I bidded on something ages ago, there was me and two other people.. I think it was a Wii. I was sat there for 20 minutes or something, I missed one bid, and the other person must have done the same, and someone won it... was very unfortunate

[bradman]

Websites like swoopo arent a scam because there are some good deals to be made. However if i was too bid on a penny auction like swoopo it would be a new/less popular one as they tend to have less members. I have heard a very interesting story that a new penny auction is going to open, it will run on exactly the same principles as swoopo except the bids are said to be alot cheaper and there are certain to be alot less registered members. I have heard a rumour that the first 5 items are going to be iphone,ps3,bid voucher,xbox and a nokia n96. Apparently "which does sound good" for a certain amount of members who register first you can buy 100 bids for only £5! Compared to swoopo where that would cost in access of £40 and where you are competing against alot more people!
If you want when i hear anymore about this website opening i will let you people know

[Inferno Dropship]

They advertised on the tv the other night for about a minute, I can guarantee they will be pulling in some "gamblers" by now.