Is Swoopo a Legit Auction site?

Does anyone know if swoopo.com is a legit auction site can you really get the items that cheap?

• Answer:

  A clip from the site quoted below: "...do the math. I've been watching people fight over a Wii, retail price $249.99. It currently stands at $111.30, and the competition remains fierce. (Perhaps it'll be done by the time I finish this message.) $111.30 / 0.15 - $1 = $741! Plus let us not forget the $111.30, for a grand total of $852.30 for the Wii. Yes, it's a great deal if you buy one bid and make the last bid. However, work the math: If this company is walking away with over $800 for a $250 product, somebody's getting screwed and it's probably you." Because there is no actual ending time for the auction (it extends every time there is a bid), people who had already invested money into bidding are going to keep going... and going... and going. Some of the auctions stay up for weeks. Meanwhile the price goes up and up. Someone lucky wins, but usually there are between 800-2000 bids placed. Let's say you bid 20x and are still losing. You say "what the heck, I'll bid another 20x -- I've already invested some money in this auction and don't want to lose it!" Problem is, everyone else is thinking that too!! So in the end you could end up spending $15 or $100 in a bidding frenzy to get a "cheap" item and chances are pretty high that you'll lose and end up with nothing. ...or end up with a "cheap" item that actual cost you the bidding price + a heckuva a lot of bids. Don't do it! Read the links below if you don't believe me! Source(s): http://technologizer.com/2008/09/17/is-swoopo-nothing-more-than-a-well-designed-gimmick/ http://www.jerf.org/iri/post/2888 http://jjbauer.blogspot.com/2008/09/is-swoopo-scam.html http://www.coolcomputing.com/d/swoopo-uk...