Swoggi?

[Nate]

Anyone heard of this site? Used it? Legit? Worth bothering with? Seems like a lot of work to get one item? Any more questions?

http://www.swoggi.co.uk/en-gb

 

[MYstIC G]

All sites like that are bullshit.

 

[Cadelin]

All sites like that are bullshit.

 

[georgie]

All sites like that are bullshit.

 

[Raven]

Scam.

 

[fettoken]

Tried it once. Just stupid naivety of me that I'd get one item. How these people get away with it..

 

[Nate]

Someone I know is under the impression this site was in the telegraph, can't find the article.

Did find this though

https://uk.answers.yahoo.com/question/index?qid=20140512072007AA6Au76

Yes, pure scam, I knew it was going to be a 'penny auction' even before looking.
Please refer to https://www.mywot.com/en/forum/14024-pen... on how the scams work, it's all there in Swoggi's FAQ + TOS that it runs on a credits system and the bidding can be automated.

In short - to place a bid, you have to spend a credit, and credits have to be purchased. So say, 100 bids for £50.
All the people who are bidding, are therefore spending money on the bids alone. So imagine the auction price reaches £70, and you actually do manage to win the auction. That's £70 on top of all the money you spend bidding. The other bidders are out of luck, the bids were wasted and the money lost.

 

[Gwadien]

So wait, say if me and Nate are having a bidding war for a toothbrush;

I put in a quid, he then puts in 2 quid, I put in 3 quid, he puts in 4, etc etc etc, that means I've paid £4 and he's paid £6? - Wtf.

 

[caLLous]

You have to pay to be able to bid. The bid amounts are true (highest bid wins - you'd have made a bid of £3 and his would be £4) but you have to pay the site x amount to get a credit to allow you to make a bid in the first place. I think.

 

[fettoken]

And what's stopping the website from having bots that make continual bids to inflate the prices? Can you call it fraud, or tampering with the market?

 

[Chilly]

And what's stopping the website from having bots that make continual bids to inflate the prices? Can you call it fraud, or tampering with the market?

Nothing. The sites are scams. It's unregulated gambling, stay away.