(not a promotion)
I found this auction site called Swoopo.
They pretty much sell electronics for less, sometimes significantly lower than retail cost.
They have this ingenious system of making money!
Each bid costs one dollar. Bidding raises the final price by $0.15, as well as resets the timer for the bidding expiration. If you are the last bidder (you bid and the timer runs out), you pay the final bid + the amount of bids you made + (I think) shipping. All the money goes to the site, but I think all the products are bought by the site.
Here is an example.
Say you are the final bidder on a Wii. The final price was $140, so that's what you pay, plus the amount of bids you made on it. See? You're already saving money. But each bid leading up to $140 costed a dollar.
Here's the ingenious part: The site gets the money used to bid, plus what you paid. So, 140/.15 = $933.33. + $140 = $1073. You paid $140, but they actually "sold" the Wii for $1073.33.
Now, if you don't control yourself, and end up bidding, say, 50 times, you're spending $50 more than the final bid. If you're not careful, that can add up to significantly more than retail cost. You have to be smart.
I question if this site is legal, so I wouldn't reccomend buying from it, yet I think they're an excellent business model! (I haven't bought from the site, but I've looked into its system)
Go to the site and take a look at some of the sales. Do the calculations, and see how much money Swoopo is making. This is the formula: (Final Bid) divided by (.15) , which gives you the money made off bids. (Bid money) plus (Final Bid) = Total profit made by Swoopo, maybe throw in shipping. Then compare that to retail, which is listed with the item on the site. Sometimes it's lower, sometimes higher.
So, is this ingenious or what?
I found this auction site called Swoopo.
They pretty much sell electronics for less, sometimes significantly lower than retail cost.
They have this ingenious system of making money!
Each bid costs one dollar. Bidding raises the final price by $0.15, as well as resets the timer for the bidding expiration. If you are the last bidder (you bid and the timer runs out), you pay the final bid + the amount of bids you made + (I think) shipping. All the money goes to the site, but I think all the products are bought by the site.
Here is an example.
Say you are the final bidder on a Wii. The final price was $140, so that's what you pay, plus the amount of bids you made on it. See? You're already saving money. But each bid leading up to $140 costed a dollar.
Here's the ingenious part: The site gets the money used to bid, plus what you paid. So, 140/.15 = $933.33. + $140 = $1073. You paid $140, but they actually "sold" the Wii for $1073.33.
Now, if you don't control yourself, and end up bidding, say, 50 times, you're spending $50 more than the final bid. If you're not careful, that can add up to significantly more than retail cost. You have to be smart.
I question if this site is legal, so I wouldn't reccomend buying from it, yet I think they're an excellent business model! (I haven't bought from the site, but I've looked into its system)
Go to the site and take a look at some of the sales. Do the calculations, and see how much money Swoopo is making. This is the formula: (Final Bid) divided by (.15) , which gives you the money made off bids. (Bid money) plus (Final Bid) = Total profit made by Swoopo, maybe throw in shipping. Then compare that to retail, which is listed with the item on the site. Sometimes it's lower, sometimes higher.
So, is this ingenious or what?
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