Swoopo raises $10 mln from August Capital

[iparxo]

just checked the canadian site people are so fucking stupid

current live auction id#325498 for i phone current auction amount is $103.60 the increaments are at 1 cents per bid cost is 0.65 per bid

DO THE MATH PEOPLE

$103.60 div by 0.01 =10360 total bids so far on the auction

Now take 10360 bids multply by 0.65 cents per cost of each bid TOTAL IS$6734

This is how much swoopo has made so far and the auction is not over yet on a $700-800 i phone but you can get it free for 4 year contract

[iparxo]

this is all bull shit that he says

maybe lost money on this one byt they make 3 times as much on big items like tvs ect

[21carmelita]

Check out this new site penny auction world dot ning dot com

[V8Countach]

Sounds like just another sneaky gambling site where most users lose their ass. No thanks...I prefer REAL shopping.

[DYLANSTORM1]

o ya and the bids r like .75 or .60

[DYLANSTORM1]

So that item is $22.80 and + shipping so that is $35.70. So that person did not win it for $17.10. That is where they get u.

[samljer]

Naw its the bids that get ppl

60 cents a bid, auctions go up sometimes as low as just 2 cents

at even $1 thats 50 bids....

Losers still have to pay that

[hitssquad]

From the description: " But as long a product sells for more than 20% of the retail price, Swoopo can break even."

Maybe that was a typo. "Retail" should be "wholesale"?