Any feedback on swoopo

I did not know that something like it exists. I saw their banner ad. on GS and clicked. Auction | Cheap TV laptop ipod auctions - bid & win on Swoopo
Seems exciting but too good to be true though.
Please share if you every bought anything from this site.

Re: Any feedback on swoopo

Quite often the winners on there have spent 4 or 5 hundred pounds on bids so the auctions really aren't the bargains they would like to have us believe. A lot of people liken it to gambling as people are paying for something they might not ever win.

Those companies are raking in the money getting people to pay for their bids in advance and when u add up all the penny bids for a particular auction it's usually wayy over the value of the item. Also, I read on a forum about a lot of users complaining that the countdown timers on that site often freeze. I would stay well clear.

That is what I thought , that it is more of a gambling because they charge you for each bid like in a slot machine.