Auction with ingenious system of making money

[Ryetta]

Re: Auction with ingenious system of making money

Doesn't sound very good for the people bidding (unless they get really lucky like that guy did o.o) but sounds like a great profit for the site.

[argo15]

Re: Auction with ingenious system of making money

it seems amazing, its like asking 1000 people to give you 75 cents so that you can buy something for $750 less.

Edit: Brilliant

http://www.swoopo.com/auction/-1-000-cash-/134919.html

[Shadowcliff]

Re: Auction with ingenious system of making money

Well now I see there are different kinds of auctions. I guess penny auctions cost less to bid on due to the $0.01 raise per bid. But I think a standard Swoopo auction costs $1 to bid and raises $0.15, like previously mentioned.

[Tokzic]

Re: Auction with ingenious system of making money

they've got a nikon d90 up for like $40 and it's a bidding war that's keeping the counter at 15 seconds remaining

if only they'd piss off so i can pick it up

[dore]

Re: Auction with ingenious system of making money

It's fun to watch the banner with all the people coming 3 seconds away from getting a $10 laptop as some ingenious businessman makes thousands of dollars of profit.

[Sullyman2007]

Re: Auction with ingenious system of making money

We are sorry, but we are unable to offer our service in the following states:
Arizona, Arkansas, Florida, Delaware, Illinois, Indiana, Iowa, Louisiana, Maryland, Montana, Tennessee, Vermont, Puerto Rico and protectorates.


Bull****.

[Sh4d0wD3v1L]

Re: Auction with ingenious system of making money

it seems amazing, its like asking 1000 people to give you 75 cents so that you can buy something for $750 less.

Edit: Brilliant
http://www.swoopo.com/auction/-1-000-cash-/134919.html

Did I read that right? Did someone honestly just pay $1200 for $1000?

[shad0wlord]

Re: Auction with ingenious system of making money

Did I read that right? Did someone honestly just pay $1200 for $1000?

Actually they only payed 373.50. It was a 100% off auction, the winner payed only for their bets.

Even if it was a normal item, the price can still go over the worth by two people trying to win the item to lower their expenses in that auction, leading to a war of attrition.