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SwipeAuctions.com

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Big.L
Posts: 703 - Karma: 15
has anybody ever heard of this site, apparently you can bid on things like xboxs and tv's and stuff like that for madd cheap, like so cheap it really sounds to good to be true, i was wondering if anyone on here has used the site before i sign up cause its like $200 or something to sign up and i dont wanna do it if its just a scam, but if its real theres some money to be made of this buying a new xbox for 60 bucks. check it out and tell me what you think
Sep 5 2010 12:24PM
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dubaiski
Posts: 961 - Karma: 37
if they ask for 200 up front you can pretty much bank on it being fake. Sucks because it sounds sick.
Sep 5 2010 12:29PM
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dubaiski
Posts: 961 - Karma: 37
scrap that then, my bad,
Sep 5 2010 12:30PM
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Justin.B
Posts: 2257 - Karma: 721
I'm pretty sure its legit, its just hard as fuck to win somthing. Its pretty much bidding wars until you run out of bids or someone gives up, and every bid costs you money...
Sep 5 2010 12:31PM
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2_fadez
Posts: 7780 - Karma: 4,183
Chances are that this website is legit.
Their process though is genius.

The way it works is that they can sell you a $400 tv for $200 because not only does it cost the buyer to buy the item, but it costs the buyer money to bid. Therefore the website sells the tv for $200 + the 20,000 penny bids that it took to get it there. Each bid costs about 2.5 cents.

So now the website has made $200 + (20,000 * .025)
The website has just sold the tv for $200 essentially, with a profit margin of $500, since chances are that they were able to buy the tv from a wholesale-dealer at $200 in the first place.

The website might not make money from selling a product, but it will in selling its e-bids.

Its kind of a pyramid scheme in the form that it takes everyone's pennies to get someone else a good deal, but overtime you lose out.
Sep 5 2010 12:34PM
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horner
Posts: 2439 - Karma: 1,578
Avoid it

http://bloggerboon.com/2010/06/23/how-swipe-bids-scam-works/
Sep 5 2010 12:37PM
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pennyauctionview
Posts: 1 - Karma: 10

The other guys are right about swipeauctions. The only thing they missed was that swipeauctions is owned by Jesse Willms. W5 has a full story on Willms here:

http://watch.ctv.ca/news/w5/w5-just-think-twice/

Its a good watch and only 20 minutes and tells you a lot.

Also, I run into a blog that explains swipeauctions to a tee. After you see this, you are gonna RUN from this site.

http://hubpages.com/hub/Swipeauctions-Review-Giving-you-the-facts

You know, if it sounds too good it is. Just save up your money and buy that thing on sale at the big box stores. You will be happier in the end.

Oct 8 2010 10:23PM
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