Is Swoopo a Scam? July 9, 2009
Posted by admin in Fundamentals.trackback
A lot of people have asked if Swoopo is a scam. The short answer to the question is no. People really do get some awesome stuff at amazing prices. I am one of them. I got my flip camera off of swoopo. I saved a few dollars, but I’ve also lost money on auctions where I didn’t win. The posts you read about online are from people that didn’t read the rules, got confused and think the world in general is out to screw them over.
Let’s be clear, the system is an ingenious market. It creates situations where one person gets an amazing deal funded by everyone else. There is a good reason they call it an entertainment auction. It gives me the same feeling as playing online poker. A certain rush of adrenaline comes over you as you get close to either winning or losing. The system is setup so that Swoopo almost always wins. The main difference is that you have to pay for bids.
The system gets really crazy during the penny auctions. If you think that each bid costs .60 and the price of the item moves up .01 with each bid you see how Swoopo makes a ton while someone gets a great deal on a new T.V. If you see a TV sell for $100 that normall sells for $1,000 on a penny auction remember that Swoopo got .60 * 10,000 or $6,000. Not a bad deal for Swoopo. Oh yeah, don’t forget that you still have to pay $100 for the item.
In some aspects it is kind of like gambling. You can always control the outcome by bidding again and again, but somehow it just doesn’t work out that way.
Bottom line. Swoopo is not a scam, people really win stuff. It pays to be patient and fully understand your bidding strategy before you start.
I would like your feedback on another site I’ve been using, bidfire.com. It has been relatively easy to win on the site and I’m wondering what makes it so different from swoopo and the difficulty I’ve had trying to win there