chunk89
Member
Registered: 16th May 07
Location: Huddersfield
User status: Offline
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just seen it advertised on t.v but cant see how the site actually makes any money if they let stuff go these prices, thats if its as genuine as they make it out to be
Mad bid
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Tom G
Member
Registered: 4th Aug 08
Location: Cheshire
User status: Offline
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You have to pay per bid.... so 500 bids at aroud £1 for a £120 ipod 
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chunk89
Member
Registered: 16th May 07
Location: Huddersfield
User status: Offline
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so its no cheaper than normal sites like ebay, waste of time
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Cavey
Member
Registered: 11th Nov 02
Location: Derby
User status: Offline
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It's cheaper if you win, otherwise you've spent x amount on nothing, so they probably make a lot of money on them
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eddiewhiteley
Member
Registered: 10th Mar 05
Location: down in albion
User status: Offline
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so the macbook thats £21.94 will have had 2194 bids each raising the price 1p and they get £1 for each of these?
so the macbook is really netting them £2194.
is that right?
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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To see why this site is so cheap you need to understand their business model.
You pay to bid. This is where it differs radically from places like Ebay.
One of the first was called Swoopo, if you search for this word you'll find a great many people complaining about it and explaining exactly what is going on.
Some of the items make thousands of pounds despite finishing under RRP because of the competition between bidders that low prices encourages and then the fact that bids are chargeable.
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AndyKent
Member
Registered: 3rd Sep 05
User status: Offline
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Yep, plus the 'winner' will have to pay the £21.94 on top, making £2216.
Easy money 
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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quote:
Originally posted by eddiewhiteley
is that right?
Pretty much.
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chunk89
Member
Registered: 16th May 07
Location: Huddersfield
User status: Offline
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its a good money making idea, as people seem to use it
[Edited on 25-10-2009 by chunk89]
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Cavey
Member
Registered: 11th Nov 02
Location: Derby
User status: Offline
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Bidders have a chance of getting something for less than they would have to pay, so it's a decent idea, and makes the host site a shit load of money as well.
People just have to realise what's going on before they start as I can imagine a lot of people getting addicted and spending thousands then not winning. People are morons after all
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eddiewhiteley
Member
Registered: 10th Mar 05
Location: down in albion
User status: Offline
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you can just imagine the kind of people that use it
paying about 2 grand for a telly and thinking they have a bargain as it only cost £4.50
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mark_gsi
Member
Registered: 1st Nov 03
Location: Peterlee/darlington
User status: Offline
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its basicaly like gambeling. your gambeling money to try and win something.
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