Swoggi penny auction site or scam?

RFW

jms1961 wrote: »

And as ever it is not something for those who can't afford it; people have a duty to be circumspect. I shan't use Swoggi again, but simply because I don't want any more high-value items.

Sadly their target market is the people who shouldn't be using it. They're one step down from payday lenders in my opinion.

soolin

RFW wrote: »

Sadly their target market is the people who shouldn't be using it. They're one step down from payday lenders in my opinion.

Well said, sites that prey in the vulnerable or naive are the lowest of the low.

ballisticbrian

I don't think this is a scam, but it is only useful if, say, you want to gamble 50 quid

I think this fan of the site would have been better ending their post there.

George_Michael

Just out of curiosity, does anyone on here know a person who has "won" an item from Swoggi or madbid? (or even knows a person who knows a person).

soolin

George_Michael wrote: »

Just out of curiosity, does anyone on here know a person who has "won" an item from Swoggi or madbid? (or even knows a person who knows a person).

Cue lots of newbies signing up to say how they have won iPads for a fiver or a car for a grand.

Personally I don't know of anyone who has won, but there are endless threads here and on other sites about people who have lost a great deal. Even the article in the Daily Mail from a 'real winner' turned out to be an employee of the site.

Salty_nutz

Not sure what's going on here but I was directed to the site by an article on moneyexpert360.co.uk. How to save 80% on retail price. Are they using what seems to be legitimate sites to sucker people in to this bidding. There were extra credits with a discount code so I signed up. Maybe I should have looked at this forum first but the Money Expert site looks convincing.

Stoke

George_Michael wrote: »

Just out of curiosity, does anyone on here know a person who has "won" an item from Swoggi or madbid? (or even knows a person who knows a person).

I don't know anyone who has won anything! There was a website that existed that proved that there was a string of 'bots' that seemed to win a lot of items, but also bid to prevent genuine members winning items, or at least inflating the cost of an item. Unfortunately, madbid was able to force the closure of the site and they have not placed the information elsewhere.

Salty_nutz wrote: »

Not sure what's going on here but I was directed to the site by an article on moneyexpert360.co.uk. How to save 80% on retail price. Are they using what seems to be legitimate sites to sucker people in to this bidding. There were extra credits with a discount code so I signed up. Maybe I should have looked at this forum first but the Money Expert site looks convincing.

The whole point of those fake blogs is to lure people in.

GGT_2

DO NOT TOUCH SWOGG!
It costs to place a bid. £50 = 100 bidding credits which you have to pay up front before you can bid. Each bid costs you 50p, in some cases £1.00. If you bid when the bid price is £1.00 and continued bidding until the bid price was £2.00 as each bid is 50p and the bid rise by 1p each time anybody bids you will have used all your bidding credits (100 =£50) all your money gone and your haven't won the bid. Swoggi is making a fortune, a mobile phone bid starts at 0p and sells at £150 (shop price for phone £450) when the bidding ends at £150 that means to get the bid to £150 at a rise of 1p per bid it took 15,000 bid, each bid costs you 50p, therefore Swoggi has collected 15,000 bid fees of 50p each = £7500.00, not a bad profit on a phone they could buy in a shop for £450. In this case 1 person has a bargain however 14999 bid fees have been wasted. Yes, I’ve been caught.
[QUOTE=extrapole;discussion/4978909]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 ?[/QUOTE]

GGT_2

DO NOT TOUCH SWOGG!
It costs to place a bid. £50 = 100 bidding credits which you have to pay up front before you can bid. Each bid costs you 50p, in some cases £1.00. If you bid when the bid price is £1.00 and continued bidding until the bid price was £2.00 as each bid is 50p and the bid rise by 1p each time anybody bids you will have used all your bidding credits (100 =£50) all your money gone and your haven't won the bid. Swoggi is making a fortune, a mobile phone bid starts at 0p and sells at £150 (shop price for phone £450) when the bidding ends at £150 that means to get the bid to £150 at a rise of 1p per bid it took 15,000 bid, each bid costs you 50p, therefore Swoggi has collected 15,000 bid fees of 50p each = £7500.00, not a bad profit on a phone they could buy in a shop for £450. In this case 1 person has a bargain however 14999 bid fees have been wasted. Yes, I’ve been caught.

ballisticbrian

How do you even know 1 person got a bargain. With such a ruthless business model, do you really think they're bothered if there is an actual real winner?