Plyngntrffc
FIA GT Newbie
Auctions??? or Gambling???
Ok so if any of you have seen this site, you might be a bit confused about its purpose. It seems like it may be an auction site as it has items that are bid upon, and a final price that is paid. But when you look a bit more into the site, you realize that bidders have to buy each and every bid for $.75.
An auction basically works like this:
An Item, such as a Panasonic 42" TV go up for bids. It starts @ $0, and each bid brings the cost of the item up by $.15, or $.01 in a penny auction. This goes on and on until the final 20 seconds of the auction, at that point each new bid brings the time back up to 20 seconds. When that time goes by, with no new bids...the highest/most recent bidder wins.
So for example...that Panasonic tv i was talking about ended @ $30.26, which is equal to 3,026 bids. The end bidder, only bid 267 of those, so in total he paid out $230.51 for the TV which has an MSRP of $1,499.
It may seem odd that the company can do this, but if you look at it, they sold over 3,000 bids for this item alone. That is $2,269.50, plus they recieve the cost of the item, 30.26, which nets them at just under $2,300 bucks, minus their cost on the TV, probably 1100, they made $1,200.
In alot of ways this is like an auction, but basically it comes down to timing, and how much you are willing to spend.
It is interesting to see people that spend hundreds or thousands of bids and end up paying 2x the amount that the item is worth, but they are just trying to get SOMETHING out of it, instead of spending all that cash on nothing...
so all in all, if you can snipe well, you can get some amazing deals...
here are a few of the best, and worst that have ended recently
Best:
TV: http://www.swoopo.com/auction/panasonic-viera-th-42pz85u-42-inch/152042.html
16gb Flash Drive: http://www.swoopo.com/auction/sandisk-cruzer-micro-16-gb-usb-2-0-flash/151461.html
Worst:
Deep Fryer: http://www.swoopo.com/auction/george-foreman-deep-fryer/152628.html
Nintendo DS: http://www.swoopo.com/auction/ds-nintendo-ds-lite-silver-/151924.html
So my quick advice if you want to try this...buy a decent sized bid pack, at least 50. Use those 50 to bid on Vouchers for 300 bids or more. Then use those bids for small/medium items which you can feesibly win, or try to get more bids...work up to 500 or so, then go after a big big item...
Like this Acer laptop, 1,500 bucks this guy won for $40... http://www.swoopo.com/auction/acer-aspire-as8930-6243-18-inch-laptop/151288.html
Ok so if any of you have seen this site, you might be a bit confused about its purpose. It seems like it may be an auction site as it has items that are bid upon, and a final price that is paid. But when you look a bit more into the site, you realize that bidders have to buy each and every bid for $.75.
An auction basically works like this:
An Item, such as a Panasonic 42" TV go up for bids. It starts @ $0, and each bid brings the cost of the item up by $.15, or $.01 in a penny auction. This goes on and on until the final 20 seconds of the auction, at that point each new bid brings the time back up to 20 seconds. When that time goes by, with no new bids...the highest/most recent bidder wins.
So for example...that Panasonic tv i was talking about ended @ $30.26, which is equal to 3,026 bids. The end bidder, only bid 267 of those, so in total he paid out $230.51 for the TV which has an MSRP of $1,499.
It may seem odd that the company can do this, but if you look at it, they sold over 3,000 bids for this item alone. That is $2,269.50, plus they recieve the cost of the item, 30.26, which nets them at just under $2,300 bucks, minus their cost on the TV, probably 1100, they made $1,200.
In alot of ways this is like an auction, but basically it comes down to timing, and how much you are willing to spend.
It is interesting to see people that spend hundreds or thousands of bids and end up paying 2x the amount that the item is worth, but they are just trying to get SOMETHING out of it, instead of spending all that cash on nothing...
so all in all, if you can snipe well, you can get some amazing deals...
here are a few of the best, and worst that have ended recently
Best:
TV: http://www.swoopo.com/auction/panasonic-viera-th-42pz85u-42-inch/152042.html
16gb Flash Drive: http://www.swoopo.com/auction/sandisk-cruzer-micro-16-gb-usb-2-0-flash/151461.html
Worst:
Deep Fryer: http://www.swoopo.com/auction/george-foreman-deep-fryer/152628.html
Nintendo DS: http://www.swoopo.com/auction/ds-nintendo-ds-lite-silver-/151924.html
So my quick advice if you want to try this...buy a decent sized bid pack, at least 50. Use those 50 to bid on Vouchers for 300 bids or more. Then use those bids for small/medium items which you can feesibly win, or try to get more bids...work up to 500 or so, then go after a big big item...
Like this Acer laptop, 1,500 bucks this guy won for $40... http://www.swoopo.com/auction/acer-aspire-as8930-6243-18-inch-laptop/151288.html
