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  • FIRST POST
    extrapole
    Swoggi penny auction site or scam?
    • #1
    • 24th May 14, 11:56 AM
    Swoggi penny auction site or scam? 24th May 14 at 11:56 AM
    I feel foolish to have fallen for this but cannot un-do what I have done .
    Attracted by what appeared to be a good way to get high tech goods for a bargain basement price,I became a Swoggi Member and had to buy credits in order to bid for the items I wanted .Foolishly,I bought £250 credit because I thought I might have to go that high to get my hands on the iPad I wanted .
    I started bidding and soon grew tired of having to bid constantly ,only to be outbidded at the last second .So,I decided to call it a day and cancelled my account .
    And this is when the problem started ! I asked for a refund of the money left on my now closed account and was told by their "customer service" ,the matter was now in the hands of their refund department and that I would get my money -minus- £15 for admin - within three weeks .That was on the 2nd of May and now more than three weeks later ,I still do not have the funds refunded and worse ,they do not answer my emails .
    I wonder if I am ever going to have my money back ?
    Is Swoggi a scam or a genuine online auction site ?
Page 12
    • marcusjr
    • By marcusjr 3rd Dec 17, 1:14 AM
    • 4 Posts
    • 8 Thanks
    marcusjr
    Swoggi scam
    It is misrepresentation according to many reviewers. This should be REPORTED to TRADING STANDARDS UK. Go to there website and report them and they will investigate and shut them down for fraudulent misrepresentation if necessary. If criminal activity they will have their ill-gotten gains taken away by HM Government.
    • soolin
    • By soolin 3rd Dec 17, 8:35 AM
    • 59,908 Posts
    • 42,529 Thanks
    soolin
    It is misrepresentation according to many reviewers. This should be REPORTED to TRADING STANDARDS UK. Go to there website and report them and they will investigate and shut them down for fraudulent misrepresentation if necessary. If criminal activity they will have their ill-gotten gains taken away by HM Government.
    Originally posted by marcusjr
    This thread has been running since 2014 and swoggi have been reported to a number of official places on many occasions with no significant action taken against them. The easiest way to stop them is for people to use a bit of common sense when signing up to these sort of sites, if no one signs up then they will be forced out of business.
    I'm the Board Guide for the Ebay Board , Charities Board , Dosh & Disability , Up Your Income and the Local MoneySaving-England board which means I volunteer to help get your forum questions answered and keep the forum running smoothly. However, do remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com
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    • titch2k6
    • By titch2k6 21st Jan 18, 10:56 AM
    • 38 Posts
    • 36 Thanks
    titch2k6
    Swoggi reality
    BTW: I haven't fallen for the penny auction site scams.
    Originally posted by RHemmings
    Penny auction? This is what it is sold as. However, each click to place your 'penny' bid actually costs you £0.50 and in all fairness to Swoggi, they do clearly state this on their site:



    So, let's just put this in prospective. A 2p bid on an item actually costs you £1 - a 10p bid will cost you £5.00 and so on. On Swoggi currently there is an iPhone 7 up for auction with a retail value of £719.00 stated by the site. Its current 'bid' value is £39.60.

    In TOTAL bid value, participants have already currently paid £1,980 for the item to Swoggi! Just an 80p bid on the item by one individual would actually cost you the current auction price value in real money terms......

    Is it a scam? I do not believe so under the definition of a scam. You are bidding against others on an item, therefore defining an auction. It will come down in the end to how many active bidders are on an item as to how much you pay through number of bids.

    Is it 'gambling'? Yes:

    Gambling is the wagering of money or something of value (referred to as "the stakes") on an event with an uncertain outcome with the primary intent of winning money or material goods

    ANY auction you participate in, whether online or in an auction house is gambling by definition. You are 'gambling' on having the lowest high-bid to win an item.

    I guess the main issue is the morality of these auctions.

    A Nintendo Switch was recently sold for £221.56 on the site. As already pointed out, each 1p bid actually cost the bidder £0.50. That meant that (if you do the maths) Swoggi actually pulled in £11,078 for the item (retail value £375.00)!!!! How much did the highest bidder spend on winning the item, we will never know. It may have been only £2.00 (four bids) - it may have been £50.00 (100 bids), but to that person, it WAS a bargain.

    At the end of the day it comes down to common sense, knowing your limits, understanding how the site actually works and good timing on the final bid.
    • RHemmings
    • By RHemmings 21st Jan 18, 11:20 AM
    • 2,049 Posts
    • 1,305 Thanks
    RHemmings
    Penny auction? This is what it is sold as. However, each click to place your 'penny' bid actually costs you £0.50 and in all fairness to Swoggi, they do clearly state this on their site:

    Is it a scam? I do not believe so under the definition of a scam. You are bidding against others on an item, therefore defining an auction. It will come down in the end to how many active bidders are on an item as to how much you pay through number of bids.
    Originally posted by titch2k6
    I think I posted the bit you quoted years ago. BTW: I haven't ever used a 'penny auction' site. I personally was aware of the 50p (or however much it was in 2016) charge per 'penny', as were others on the thread. Hence, this isn't new information.

    Having checked a dictionary entry for 'scam', Penny Auctions seem to be a scam to me under some of these meanings.

    scam
    skam/Submit
    noun informal
    1.
    a dishonest scheme; a fraud.
    "an insurance scam"
    synonyms: fraud, swindle, fraudulent scheme, racket, trick, diddle; More
    I would classify penny auctions as 'a dishonest scheme' even if they are legal.

    There have been claims (which I have not checked out nor am I able to check out) that some penny auctions use bots to keep auctions going longer than they would otherwise do so. If this is true, then that would ramp up the dishonesty even more.

    Some of the auctions have been promoted by a site that tried to imitate moneysavingexpert.com using a similar name. A number of people were deceived and thought that Martin Lewis had supported these schemes. I believe this did happen, and I think I saw that site myself. If so, that ramps up the dishonesty of the sites in my eyes.

    There have been 'reviews' of these sites, sometimes with the 'reviewers' winning items at total costs that were a fantastic bargain, and winning auction after auction. I personally do not believe that these reviews were genuine, nor do I believe that it's realistically possible to win auctions in the way that is described. I also believe that these 'reviews' are planted by the penny auction sites. If this is correct, then that ramps up the dishonesty even more.

    In total, my impression of these penny sites is that they stink more than a barrel of pickled fish that has been left outside for a week at the height of summer. I feel that they are incredibly dishonest, and for me that matches my definition of a scam. And the dictionary I consulted agrees with me. That doesn't prove I'm right, but is, in my opinion, enough to justify my usage of the word 'scam' as reasonable.
    Last edited by RHemmings; 21-01-2018 at 11:26 AM.
    • AndrewJeffers
    • By AndrewJeffers 27th Jan 18, 2:03 PM
    • 1 Posts
    • 0 Thanks
    AndrewJeffers
    So why is MSE peddling this fraud?
    • soolin
    • By soolin 27th Jan 18, 2:40 PM
    • 59,908 Posts
    • 42,529 Thanks
    soolin
    So why is MSE peddling this fraud?
    Originally posted by AndrewJeffers
    They're not.
    I'm the Board Guide for the Ebay Board , Charities Board , Dosh & Disability , Up Your Income and the Local MoneySaving-England board which means I volunteer to help get your forum questions answered and keep the forum running smoothly. However, do remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com
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