You buy auction vouchers for 75 cents (each voucher raises the bid price by 1 penny and adds between 2 and 15 seconds to the ending time of the auction). All auctions are for new items and the final bid price is what the winner has to pay. I saw a $1300 computer sell for $240.00 ... seems like a great bargain until you realize 24,000 vouchers were used. The auction house received $18,000 + the $240 sell price for a total of $18,240 less the cost of the computer.
Thursday, June 18, 2009
PT Barnum was right
Look ahead and reason back before you enter an auction at www.swoopo.com. From former student Dave Parks:
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I had a discussion about this and the dollar auction game here:
ReplyDeletehttp://bizop.ca/blog1/the_franchise_news/2008/12/real-dollar-auction-game.html
May be of interest.