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Just when I thought people couldn't be any stupider...

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Re: Just when I thought people couldn't be any stupider...

Postby The_Show » Sun Dec 14, 2008 4:46 pm

http://www.swoopo.com/auction/wii-ninte ... 28597.html

Why would they bid beyond suggested retail price? The owners of the site just made $1300+ from that one.
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Re: Just when I thought people couldn't be any stupider...

Postby GiantsFan14 » Sun Dec 14, 2008 4:59 pm

The_Show wrote:http://www.swoopo.com/auction/wii-nintendo-console-wii-sports/128597.html

Why would they bid beyond suggested retail price? The owners of the site just made $1300+ from that one.


people get invested in the product they're bidding on. they get into bidding wars with other people and the price just keeps going up because they've already spent so much in bids and don't want that money to have been a waste. it becomes like a game where they feel like they need to beat the people they are bidding against, they feel like by giving up the bidding that they are losing and the person they are bidding against has beat them.

to sum it all up, people are unbelievably dumb.
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Re: Just when I thought people couldn't be any stupider...

Postby thedude » Sun Dec 14, 2008 8:07 pm

The more i look at this thing the more i am amazed at this great business idea. the 1 cent auctions that i clicked on earlier seemed to make the company tons of money. Because ever bid for all intensive purposes does not increase the price so more people will keep jumping. 4500 bids (like the one i linked to earlier) makes an item look like it is selling at a loss, but in reality is selling for 10 times the retail price.
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Re: Just when I thought people couldn't be any stupider...

Postby Madison » Mon Dec 15, 2008 2:36 am

thedude wrote:This auction is ridiculous.

http://www.swoopo.com/auction/tomtom-go ... 27546.html

There have been, as i type this, nearly 3600 bids on this GPS, which means Swoopo has already made $2700 before even selling the item. You can get the same GPS on amazon for less than $400.

You really are gambling that no else will see the item.


The guy that won that one spent a total of: $101.72

Pretty good deal.

And of course the company made a ton of money too, but that's what they are in business to do (make money).
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Re: Just when I thought people couldn't be any stupider...

Postby jlm53089 » Mon Dec 15, 2008 6:10 pm

This business plan is great. For whoever though it up is ingenious.
It works very well in the buyers favor, that who wins the bidding.
But the people bidding on it as a whole lose out in the end.
Their profit margins must be huge, no advertising, simple website, and 10 fold profit made on ever product.
This is a great idea, I wish I would of thought of it :-C
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Re: Just when I thought people couldn't be any stupider...

Postby Art Vandelay » Mon Dec 15, 2008 6:48 pm

What on earth would ever lead anyone to believe that people couldn't get any more stupid?
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Re: Just when I thought people couldn't be any stupider...

Postby RugbyD » Mon Dec 15, 2008 7:26 pm

Art Vandelay wrote:What on earth would ever lead anyone to believe that people couldn't get any more stupid?

quite convenient that the man who says this has a Costanza sig. Way to make a point! :-D
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Re: Just when I thought people couldn't be any stupider...

Postby TheRock » Tue Dec 16, 2008 12:00 pm

Art Vandelay wrote:What on earth would ever lead anyone to believe that people couldn't get any more stupid?


Never thought I'd say this. I completely and wholeheartedly agree with Art.
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Re: Just when I thought people couldn't be any stupider...

Postby zepfan » Tue Dec 16, 2008 2:10 pm

Art Vandelay wrote:What on earth would ever lead anyone to believe that people couldn't get any more stupid?


As per Albert Einstein:

"Only two things are infinite, the universe and human stupidity, and I'm not sure about the former."
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