The Way swoopo works: Users pay 75 cents per bid to use swoopo. Penny auctions start with a product at $0 then each bid increases the item price by one cent. Bi

The Way swoopo works: Users pay 75 cents per bid to use swoopo. Penny auctions start with a product at $0 then each bid increases the item price by one cent. Bidding at the last second won't help because it resets the timer to 10, 15 or 20. $44800 computer: 58950 bid were placed, at 75 cents each that's $44212.50 + the final price $589.50 for a total of $44802 I researched the site a bit and generated some statistics including the top 20 biggest consumer fails / swoopo wins, the above being the most profit they've made. http://blog.jimmyr.com/Auction_site_Swoopo_a_scam_or_a_bargain__13_2009.php http://blog.jimmyr.com/Auction_site_Swoopo_a_scam_or_a_barga...