scoop a D90 up on Swoopo.com
i saw one go for $9.25 the other day.
Bought sight unseen, in what condition and what in trade?
Actually, it's brand new at $9.25. It seems like a bargain but it isn't really.
That would've been a penny-auction, meaning that people can only increase their bid on the item by a penny at a time. It costs 75 cents to bid. Thus, Swoopo made 925 x $0.75 = $693.75.
Sounds like it's a bad deal for Swoopo? It generally isn't - considering the fact that the camera would normally cost over a grand, people still bid when the bidding gets to $50, even higher... that's $3,750 income right there. After you bid, if someone else bids you don't get your $0.75 back.
To make it even more ridiculous, Swoopo makes auctions for the bids themselves, auctioning off a voucher for, say 300 bids as demonstrated below:
Auctions | Cheap 300 Bids Voucher auctions - bid & win on Swoopo
At the time I write this, bidding has gotten to $54.43 for $225 worth of bids which means that Swoopo is making AT LEAST 5443 x $0.75 - $225 = $3,857.25 in pure profit, not even having to ship an actual product! But people keep bidding because $55 is less than $225.
If you're lucky, and I mean really lucky, you'll bid and win off that bid. Then it's win-win. But there's too much losing on that site to make it worth it, and once you've put in $50 worth of bids for a $100 item, it's hard to cut yourself off because once you do, all the money you put towards bidding goes to waste. The site's tagline is "entertainment shopping" for a reason.
I gotta hand it to whoever came up with the idea though - they're a fuzzing genius. Site's profitable and appears like it will remain so for the forseeable future. I won't be bidding but best of luck to them.
By the way, if that's not enough to keep you from bidding... keep in mind it's essentially a gambling site. The legality of it is uncertain at best.