gonna try my hand at this..... problem is the more they grow the worse it is for bidders

swoopa probably has a system in place to see how many people are watching the auction, and they'll place their own bids as long as people are "gambling" and watching

I was wondering that as well, look at the wii right now damm there making big bucks

for some reason the time-remaining on this sony tv bid i was watching just shot up to 15mins even though there was only like 5 bids (at 10sec left)

its up to 70.77$ up a 0.01 every bid(1bid=0.65) = $4600.50 for a tv that costs $2600 at Futureshop or ($1800 if you buy from the states)

they're making a tonne o cash

it says the last auction for it sold at $126.04=$8192.60 in bids + $126.04=$8318.64 the website made and whatever overheard they have off of shipping

did u buy any bids yet?

yeah i bought a 40pack and theres a promotion now for buy1 get1 so i got 80bids

will probably have to check back later tonight (the bidding will probably still be going)

the PS3 80 seems like a good deal

Sure feels like a new online gambling site.

I saw a nikon d90 go for $9.80 O.o I was going to bid but didn't think it would go so low

Everytime you bid, the time limit goes up and $ goes to the site owner. Your chance on getting a good deal is based on the misfortune of others.

$0.65 every $0.12 increment...lol

so every dollar increases on the auction price, Swoop makes $5.42 :lol am I correct?

For an item that is $100cdn...they make money once it hits $18.45...holy shit, they are smart...hahah

^its more than that. the increment changes as per item. I'm not sure if its dependent on the item or item price, but this macbook i was curious about changed in increments of a penny.

the macbook sold for about 35 dollars.assuming it was a penny per bid from the start and 12c starting price:


35 dollars ->3500 cents -12 ->3488 bids at 65 cents each -->>2267+35dollars final price -->>2302-1500 retail -->> one macbook made them ~800 dollars.

check my math?

their bidbutler thing is a scam.

if your range is too high, you lost no money but never had a chance to get it

if your range is too low, you wasted a bunch of money to get nothing

if your range is too broad, and you're the only one with bid butler, you may use up all of your bids within the first minute of being in the range of your price.

if there are two bid butlers, all their bids are throw down automatically and the one with the more number of bids within that range wins.

still trying to wrap my head around it.. but it seems like..

winning bidder = winner. website = winner. the 100s of other people that bid but didn't tough it out = suckers.

tv i was watching (but ended up giving up the monitoring on it) sold at $90 something


they're selling an Acer Aspire laptop atm but showing a picture for an HP and giving details of a HP laptop

LOL
i see an auction on bids voucher
essentially, they're making money from money

there's an auction for a 1oz gold bar but the description talks about a limited edition watch yet the picture shows a gold bar oO

Very interesting business model...

ok..... a Canon EOS auction was about to end with not enough bids for the website to make their money back on the item and the timer shot up to 5hrs

damn, this takes forever............

X= retail price
r = increment amount
f = minimum final price

x = (f-.12)*.65/r + f

=> f = (rx+.078)/(.65+r)

don't bid less than f plus a couple bucks.

I bought the 40 pack probably gonna wait till the middle of the night or somthing to blow my bids

let's work together
 

i just created the username Swpobot1012
who wants to be Swpobotxxxx.....................
one for all and all for one..

doesn't work like that.... they've seem to have timed their auctions to expire during the day.... and if its going to expire during the night (and it doesn't meet their minimum price) the timer will just increase a few hours on its own... also if there's an auction thats gone on til the evening it'll likely be closed to new bidders

Hmm after watching and betting on some items this whole thing is kind if stupid, betting seems so futile especially when a higher price item is running out of time

feels like I wasted $30..

The only reason why some items get pushed back for a couple of hours is when some dumbass members begin abusing the Bidbutler function, wasting precious bids.