$2

12/9/2008 8:28:02 PM

Wait, where does it say you pay the final price even if you don't win?

That's not correct. You place a bid for 75 cents each, and if you win, you pay the final price. This isn't an insane business model. It's definitely gambling, but they aren't making 1000% profits like you guys are math-monkeying

12/9/2008 8:36:49 PM

i guarantee it is one of the highest profit percentage on the net right now

12/9/2008 8:48:27 PM

I guarantee it's not.

12/9/2008 8:56:40 PM

I just watched a wii raise $15 in about 10 minutes. the auction is raising $.15 for every $.75 bid. So they just made $75 that fast.

ended at $78.

$58 above where I stated watching. 387 bids. $290 in bids. plus the $78.

They are making money, but not totally ridiculous amounts.

[Edited on December 9, 2008 at 9:32 PM. Reason : .]

12/9/2008 9:05:03 PM

so which sites Noen, are making higher than 50% profits?

12/9/2008 9:08:02 PM

^Show me how they are averaging 50% profits? All I've seen are a handful of widely varied final bids. All this posting single auctions is anecdotal. Show me a balance sheet, reported earnings, something.

It's a lottery site with a very slick marketing angle. It's not the second coming.

12/9/2008 9:48:41 PM

I'm confused.

12/9/2008 10:24:44 PM

So this is a legit "auction site?"

12/10/2008 12:37:41 AM

Quote :

"I just watched a wii raise $15 in about 10 minutes. the auction is raising $.15 for every $.75 bid. So they just made $75 that fast. ended at $78. $58 above where I stated watching. 387 bids. $290 in bids. plus the $78. They are making money, but not totally ridiculous amounts."

You have to factor in though the sales where they're losing money. on that TV that sold for $200, they ate at least $1000. That means if 10 bidders that lost bid 13 times, they break even, or are only making the standard ~30% or so TVs are normally marked up.

But, it's still a pretty brilliant model, and I bet they are making a ton of money still. The site could easily be set up to have very little overheard and pretty much run itself.

12/10/2008 2:07:41 AM

Yeah http://www.winners24.com is the same way. Each bid costs a dollar and then you pay for the product.

They are making a mf'n killing.

12/10/2008 2:41:18 AM

No, they aren't. The is the same bullshit ideas that people thought "was a huge moneymaker" with ponzi schemes, and with the matrix payout bullshit.

It's not sustainable, and you don't make a whole lot of money on it over the long haul.

12/10/2008 5:09:13 AM

I wish I had thought of this (making the site, i mean, not bidding on the items).

Smartest way to profit from the Internet that I have ever seen. That is if people are actually bidding at the rates described in this thread.

Also, don't forget about ad revenue. Even on the low-traffic items, they're still generating clicks.


[Edited on December 10, 2008 at 6:15 AM. Reason : .]

12/10/2008 6:12:39 AM

^ me too

^^ You've got to be kidding me. They brag that you just bought a Wii for like $19.89. But each bid is a penny increment and each bid costs $1. So they just sold a $250 Wii for a total of $1,989. How is that not killer profits? This shit is pure genius.

12/10/2008 6:15:55 AM

dude that got sold the 50" Samsung HDTV for $300 is GOLDEN. Best deal I've seen EVER.

12/10/2008 7:14:31 AM

Quote :

"^^ nah, there has to be a point where people stop or else no one would bid."

Well in my business model, with all $0 auctions, I could just put one page of items up and make money off it forever at $0.75 per ~15 seconds x however many items.

So do people have to prepay for all the bids or can they bid/pay on the fly? If people have to prepay for all those bids, not only are they making a killing, but they had the money in hand before the bids are even placed.

12/10/2008 7:53:16 AM

People have to prepay.

12/10/2008 8:01:13 AM

Well I watched a few auctionson swoopo and I must say, they are making a great deal of money.

They auctioned off 300 swoopo bids, for free (no item cost, just bidding cost). The final auction price was like $1,700. This means they cleared $8,200 ON NOTHING.

I don't get how you can say they aren't making that much money. Watch the auctions, do the math.

12/10/2008 8:29:44 AM

I wonder if they pay people to artificially inflate the bids.

12/10/2008 8:33:44 AM

fucking genius

every little red flash is $0.75

why couldnt I think of this?!

12/10/2008 9:03:25 AM

lmfao! they're selling "free bids" so you spend money to bid on an item that is "free bids"

its 300 free bids going for $310 and up... but supposedly they give you that back or something but you still placed like 80 bids on it. GOD what idiots

[Edited on December 10, 2008 at 9:07 AM. Reason : idiot posting]

12/10/2008 9:06:13 AM