| I happened to stumble onto a Google link for Swoopo | | | | bids at a time. Each time a bid is placed, the time left in |
| Auctions while doing a search for pricing of an Apple | | | | the auction increases by either 10, 15, or 20 seconds. |
| Macbook laptop computer. It started innocently enough. | | | | And if two bidders decide to place automated bids for |
| The more I investigated the Swoopo concept the | | | | the same time period a bid butler war ensues. All the |
| more intriguing it became. Not only did I think I would | | | | bids are used up immediately and a whole bunch of |
| save a bundle, but it looked fun as well. For those who | | | | time is added to the counter. For example, if two |
| don't know about Swoopo, Swoopo auctions are like | | | | people activate a 50 bid automated bid butler, they will |
| the reverse of an eBay auction. As the counter drops | | | | cancel each other out, and add 10, 15, or 20 seconds |
| to zero, the bidder who has placed the last bid when | | | | onto the auction, multiplied, in this case, by 100 (the total |
| the counter reaching 0:00 wins the auction. Sounds | | | | number of bids in both bid butlers). You can see by this |
| simple enough doesn't it, but you need to know the | | | | example, a lot of time can be added to the auction |
| details in order to protect yourself. In a Swoopo | | | | when this occurs. |
| auction you are not indicating what you are willing to | | | | Auctions can last for hours or days because of this, |
| pay for an item, metaphorically, you are simply raising | | | | and in effect, helps Swoopo make huge amounts of |
| your hand saying I will buy the item for the price that is | | | | money on each item. The longer the auction lasts, the |
| listed if I am lucky enough to be the last bidder when | | | | more money they make. There is another variable that |
| the counter reaches zero. | | | | really makes winning very difficult. Internet lag. Most |
| The purchase price continues to rise as the auction | | | | people, in order to save bids, will wait until the counter |
| continues. Every time someone bids the price rises a | | | | gets very low, as close to zero as possible. |
| specific increment. Some auctions are penny auctions | | | | Remember, each time a bid is placed either 10, 15, or |
| so each bid raises the price 1 cent. Others can be 6 | | | | 20 seconds is added to the timer. Where a bidder has |
| cent or 12 cent auctions, for example. So each time | | | | problems, is when the time shown on your computer |
| someone bids the selling price increases by the 6 or 12 | | | | screen does not match the actual timer at Swoopo. I |
| cent increment. In order to bid, you have to buy bids | | | | have had a number of auctions in which I placed a bid |
| from Swoopo. At the time of this article, the bids cost | | | | with 1 or 2 seconds left on the counter and suddenly, |
| 60 cents each and are sold in bundles ranging from a | | | | the auction ended, with my bid not even registering. I |
| 40 bid bundle to a 1000. Getting started is easy | | | | have found out from other Swoopo users and forums |
| enough. Open up an account, pick a user name, and | | | | that this is very common. |
| purchase your bid bundle from Swoopo using a credit | | | | One more HUGE reason not to get involved with |
| card or PayPal account. There are many categories | | | | Swoopo. Swoopo Pros! These are users who |
| of items available on Swoopo. From high end | | | | routinely win item after item with tactics that are hard |
| electronics, LCD tv's, washers, dryers, gold and silver, | | | | to beat. Imagine going against someone who uses |
| games, watches, to auctions to win bid bundles, there | | | | automated bidding exclusively and will literally keep |
| is something for everyone. | | | | bidding, no matter the cost, until they win the item! In |
| Most items are sold well below the retail price, and | | | | fact, there are a number of Swoopo Pros that will pay |
| even with shipping costs, a bidder can get a great deal. | | | | more than the retail cost of the item in order to win it. |
| There are a few problems, however, that we must go | | | | While that makes no sense to me, it happens, and |
| over. Without this knowledge you WILL lose your | | | | happens a lot. One last thought... Swoopo has rules |
| money. And that comes from experience. Many items | | | | that allow users to win up to 8 items per month, have |
| attract hundreds of bidders. Each bidder, hoping for the | | | | only one user account, and do not allow resale of |
| deal of a lifetime. Routinely, a 27 inch iMac computer | | | | items that are won. |
| will sell for well under $200! Sometimes as low at $10!! | | | | I have emailed Swoopo many times asking them to |
| Considering that its retail cost is just under $2000, how | | | | change their rules to only allow each user the |
| can you go wrong? Easy... What if you have 3 or 400 | | | | opportunity to win a certain item once per month |
| bidders all salivating over the concept of winning this | | | | because I have noticed many of the Swoopo pros |
| computer? What if (remember, this is a penny auction), | | | | winning, for example, 5 computers in a four week |
| the item sells for $100? That means that 10,000 bids | | | | period. I stated in my email that Swoopo rules prohibit |
| have been placed by the group of bidders interested in | | | | the resale of items won. I asked them if they really |
| the computer. Do you see what this can mean? Each | | | | think that a person winning 5 computers is using them |
| bid costs someone 60 cents. | | | | all for personal use? Unfortunately, it seems that this |
| There are two and only two winners here... Swoopo, | | | | rule is not easily enforced. While there are many more |
| who collected, in this example, $6000 in bids for a | | | | concepts that I could share with you regarding |
| computer that retails for under $2K, and the actual | | | | Swoopo, I am hopeful that this brief description will help |
| winner of the auction. There is another variable that | | | | you either avoid the site completely, or at least |
| you need to know about. You can place bids on most | | | | understand what you are getting into BEFORE you |
| auctions in two ways. Single bids or automated bids. | | | | lose a lot of money in the process. |
| Automated bidding, called Bid Butlers, are limited to 50 | | | | |