Swoopo?

Scott,

Here's what you're missing...

Let's say you it costs $1 to bid - I went to the site and couldn't see anywhere where it said how much other than "a small fee". And you set your autobidder to bid in the last 10 seconds.

So do 15 other people.

The winner will then be the one who said they were willing to bid the most, or who has money left in their bid account. Provided there is not someone else placing single bids now and then as well until all autobidders have expired their accounts.

Plus, on auto bid, you have no say in When you bid will be placed, as far as the order of bidding in comparison to other autobidders. So autobidder could easily wipe out you an another bidder before using the funds from two other autobidders to bid until their funds are dry, and then moving to another two autobidders. And so on.

And if you think, "I'll single bid" and "wait", then you need to ask yourself How Much money you're willing to flush down this toilet before you say Enough and just stop?

Think after you've blown $10 on bidding and have nothing to show, you'll just walk? Or will you think "I can't let that money be wasted" and keep bidding?

I watched Swoopo and some people bid over 300 times - within the last 15 seconds - before winning. Spending $225 on bidding to have the privilege of them paying more for the item.

If you say to someone... hey, I'm selling tickets in a raffle for this Thing, want to buy $200 worth and if you win you can then pay me more money for the thing... think you'll have many takers?

People are sucked in like they are sucked into lotteries because they tell themselves... someone has to win.

That's right. Someone does have to win. How much money per Auction and how many Auctions are you willing to loose money on before you decide it's a bad joke. At what point will you pull the plug in total spendings with no reward? $100? $500? $1,000?

Michael Ross