Is Swoopo a Scam? All the answers here
66Swoopo
What is Swoopo?
Swoopo.com is an online auction site a lot like the familiar Ebay yet still very difereent from it. As you may know on ebay we sign up for an account and start bidding for an item that takes our fancy. in the end if we win on that bidding war we end up paying the amount bid and the shipping cost.
The new concept of Swoopo however, is very different from our everyday auction site. First you sign up by paying absolutely nothing, then you buy a bid pack. This is where it starts getting a little alien. When bidding using Swoopo we pay to place a bid, currently 50p per bid. The bid pack that you buy will ensure that you have enough credit to place that bid. The smallest bid pack is £10. Every bid placed also increases the time left by a few seconds.
Get the drift? Let me explain......
How Does It Work?
Let's just say there is a professional digital camera up for auction which is worth in reality about £600 and you're interested. You start bidding and at the peak of the auction there are 200 bidders wanting that same camera. Let's asume that at the end of that auction the camera sold for £40 plus shipping costs. Sound too good to be true, a give away price. NO, not at all...
If the 200 bidders including you put in 2000 bids all together, at a cost of 50p per bid this means that swoopo made 2000*0.5=£1000 plus the final bid price of £40 which comes to £1040 plus shipping costs on average I'd say £10 and under. This means that Swoopo walks away with £1050. As for you, let's say that all the bidders placed an even number of bids, so 100 bids each, which is the number you've placed. So what you have to pay is 100*0.5=£50 plus £40 for item plus shipping costs of about £10 or less. All in all you pay £100 for something that's worth £600 and savings of £500.
Bidders: 200
Total no. of bids: 2000
Bidds per person: 100
Price per bid: £0.50
Spend on bids per person: £50.00
Winning bid: £40.00
Shipping costs: £10.00
Winner pays: £100.00
Swoopo earns: £1050.00
So you see, Swoopo is not a rip off. You can check it out yourself, click here to get a free account and try for yourself.
Don't forget leave comments and let me know what you think once you've tried it!
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daniel says:
5 weeks ago
HOW CAN YOU POSSIBLY SAY this is NOT a ripoff!? You're such an idiot. Just look at how much swoopo takes in compared to how much it pays out.
Swoopo makes 1050 pounds and pays out 600, keeping 450 as pure profit. Many of those bidders just lost money bidding on something they didn't win. THE ONLY WINNING STRATEGY IS NOT TO PLAY.