Snaglo.com

[biggestmexi]

From their front page this LOOKS awesome.

Itouch 8gb for under $20 bucks WOW!!!.

but what does it say here in the "how's it work"?

Our customers purchase online "bids" in advance. The bids cost $0.75 each and are sold in packs of 50, 100, 250, 500, or 1000

:flush:

50 bids = 37.50

1000 bids = 750.00.

And im guessing "someone" alwatys will beat you.

but if you can buy a jeep wrangler for 500 dollars, it be worth it. but i dunno the odds.


and it seems when you bid on something the time goes up....so more people can waste more bids.

~~~~~sssnnnneeeeaaaakkkkyyyyy~~~~~~~

[biggestmexi]

OOOHHHHHHH

you get 3 free bids for signing up!!!!!!!!!!!

and 10 more when/if you buy a package

EEEEEEEEEEEEEEEEEEEE

[JustJon]

These kinds of sites are sort of a scam. They make their money on bids and if you bid at the last second, it adds 10 seconds to the time to add additional time, so more bids can get in. So you look like you're getting the cheap iPod but paid for it on the back end with your bids and the other people's bids.

[biggestmexi]

absolutely correct JJ. I just did the math on this on here

http://www.snaglo.com/auctions/view/3452

it was $60.16 when i last looked. Each bid increased it by 2 cents.

so I take 6016/2=3008.

Each bid cost $0.75

3008x0.75 = 2256


it would be super sweet if the timer never went up. But what company would lose money like that.

[biggestmexi]

itouch is now worth over 400 dollars considering the 6cent per bid at 32.76 now

JEESH!

[Chigworthy]

I prefer pennystockchaser.

[StanUpshaw]

It's only a matter of time before Fez starts shilling for Snaglo.com

[IMSlacker]

It's only a matter of time before Fez starts shilling for Snaglo.com

Started today. I'm guessing that's the reason for the thread.

[StanUpshaw]

Ah. Makes sense then.

[CruelCircus]

They call these sites "entertainment auctions" or "entertainment shopping."
They're essentially a form of gambling. Some sites have been found out to be scams, but there are legit ones.

I've won a few small things on bidcactus.com, but the higher end stuff is incredibly hard to win w/o a lot of committment of time and money.
Most of the sites have a set of "power bidders" who bully their way to win items at all costs, sometimes spending well over market value, in order to establish a reputation as someone to not bid against. They become the ones who win laptops and iphones for pennies, and wind up selling them on ebay to make money.

Good luck!

[badorties]

my job deals with one of these penny auctions (http://www.bidcactus.com/)located in CT ... they but tons of kitchen appliances -- business is booming ... we don't forecast the sales, our mindset is that tomorrow they're out of business

it's a gimmick along the lines of carney games ... there's scripted bots on both side of the game: the owner has ones that drives up the price to at least a certain bid/$ count and the users buy/use bot to bid at the last second

as a user, you could get a $100 gift card for $5 ... the owner bought it for at a bulk discount at $80/$90 ... with so many bids placed, the profits are huge and the customer can snag a sweet deal

the average user might never win, it's probably the largest collection of trolls

[Suspect Chin]

50 bids = 37.50

1000 bids = 750.00.

And you know you're never going to use up exactly the number of bids that you bought so you'll end up with some left over. Since you won't want to waste those bids, you'll end up buying more bids in order to complete an auction.

But really buying Playstation or Wii games online is no better. You have to convert your real money into their points currency. Of course, the games never divide equally into the denominations of points you are able to buy, so you end up with an odd number of points and then buy more in order to not waste the leftover points.

Scandalous.

[ToiletCrusher]

badmouthing sponsors makes Fez angry.

[STC-Dub]

I was wondering how that place worked, now I know.

[biggestmexi]

I was wondering how that place worked, now I know.

they are making money hand over ankles.

i shoulda though of this.

[Lividspiral]

The list below leaves me to question just how real this can be; its way too good to be true from a first glance

1. You buy bids in order to try to win items

2. These items sell for next to nothing versuses what they are worth.

3. They claim to offer a snag it now feature (buying something at retail price using the money used in bids), yet say they never have inventory of the item to allow that feature to be used. If this is the case how do they list the same stuff over and over without having inventory?

4. They never charge shipping yet you supposedly can win something for almost nothing. $0.32 for an ipod touch, how can they ship for that?

5. They auction off bid packages, why would they do this as this is the only way they are making money, off the bids. That is how you can say that it works, all the bids cost money. SO why give them away for next to nothing?

6. They offer at times what they call exclusive auctions, that so many people are needed to run it and it cost an entry fee of bids to enter. This sounds nice, but one of the exclusive auctions in which 15 people paid 10 bids each to enter, only sold for $0.34 and only a few people of the 15 bid on it? Why put bids up if you don't bid?

7. They do not require you to supply address and age verification at time of register. So age doesn't matter and address doesn't matter to a site that you are supposedly winning stuff to be sent to you?

8. This is a reach but you have to question some of the screen names, what would stop this company from having bots or themselves bidding on items to just waste people's bids? They don't care bids are free to them if this is the case.

9. They are always selling the same stuff over and over, nothing out of the norm, yet this site could sell anything?

10. the only things that have really look like they've been won is bid packages. This would explain that they don't care if you win bid packages because you truely can't win an actual item.

11. The draw to the site is that you see under the winners list all these people winning stuff dirt cheap, that draws you in and keeps you hooked. But how many of these are actual people and not a scamming bot or snaglo people. Sure you think that people are winning but how do we know.

12. They offer no way for you to know anything about other members. Like a communication section of any sort. This is minor but that would help curb the idea that these may not be real people all the time you are bidding against.


i know the boys and ron / fez need advertisers and i'm guessing with the economy and the unstable concept that is sirius/xm radio, the advertisers are likely hard to come by but still.. maybe if sleeves writes a themesong for them it'll be more believeable

[disneyspy]

it makes me mad watching these bids,just when you think someones gonna get something cheap some asshole bumps it by 2 cents

[disneyspy]

holy shit,someone just got an HP laptop for 3.34,holy shit!

[ChetB]

And you know you're never going to use up exactly the number of bids that you bought so you'll end up with some left over. Since you won't want to waste those bids, you'll end up buying more bids in order to complete an auction.
Scandalous.
& nauseating. Buy bids? That's silly. Plus, the never ending cycle referenced above. I'm surprised people fall for this shit.

[LordJezo]

An old thread discussing the site:

http://pennyauctionwatch.com/forum/showthread.php?t=354&highlight=snaglo

Scam comes up a bunch of times in there.

[badorties]

The list below leaves me to question just how real this can be; its way too good to be true from a first glance

1. You buy bids in order to try to win items

2. These items sell for next to nothing versuses what they are worth.

3. They claim to offer a snag it now feature (buying something at retail price using the money used in bids), yet say they never have inventory of the item to allow that feature to be used. If this is the case how do they list the same stuff over and over without having inventory?

4. They never charge shipping yet you supposedly can win something for almost nothing. $0.32 for an ipod touch, how can they ship for that?

5. They auction off bid packages, why would they do this as this is the only way they are making money, off the bids. That is how you can say that it works, all the bids cost money. SO why give them away for next to nothing?

6. They offer at times what they call exclusive auctions, that so many people are needed to run it and it cost an entry fee of bids to enter. This sounds nice, but one of the exclusive auctions in which 15 people paid 10 bids each to enter, only sold for $0.34 and only a few people of the 15 bid on it? Why put bids up if you don't bid?

7. They do not require you to supply address and age verification at time of register. So age doesn't matter and address doesn't matter to a site that you are supposedly winning stuff to be sent to you?

8. This is a reach but you have to question some of the screen names, what would stop this company from having bots or themselves bidding on items to just waste people's bids? They don't care bids are free to them if this is the case.

9. They are always selling the same stuff over and over, nothing out of the norm, yet this site could sell anything?

10. the only things that have really look like they've been won is bid packages. This would explain that they don't care if you win bid packages because you truely can't win an actual item.

11. The draw to the site is that you see under the winners list all these people winning stuff dirt cheap, that draws you in and keeps you hooked. But how many of these are actual people and not a scamming bot or snaglo people. Sure you think that people are winning but how do we know.

12. They offer no way for you to know anything about other members. Like a communication section of any sort. This is minor but that would help curb the idea that these may not be real people all the time you are bidding against.


i know the boys and ron / fez need advertisers and i'm guessing with the economy and the unstable concept that is sirius/xm radio, the advertisers are likely hard to come by but still.. maybe if sleeves writes a themesong for them it'll be more believeable

the "winner" gets the item at a discount ... but there are hundred, if not thousands, of bids placed ... the user buys a pack of bids, and each bid cost a nominal amount

for a $200 ipod, they could easily make $100-$200 in profit for every order -- so a small $10 shipping fee isn't much of a concern ... and i'm fairly certain their are scripts/bot involved to regulate their profit margin and bottom lines -- and like any other retail busineess, they probably offer a few "loss-leaders" (like black friday deals) to hook portenial clients

for inventory/stock levels: we receive a pull list of "won" items and recipients, and we do the shipping ... the items listed are top sellers and are usually well stocked -- but there are caveats in place if an item is out of stock

it's a genius system: set up the game, collect the money and have a vendor ship off the items

[Chigworthy]

You've piqued my interest. I am a single elderly woman with no family. I have a very large inheritance. I was recently diagnosed with alzheimer's, but I'd really like to get in on some investments, preferably overseas.

[Death Metal Moe]

You've piqued my interest. I am a single elderly woman with no family. I have a very large inheritance. I was recently diagnosed with alzheimer's, but I'd really like to get in on some investments, preferably overseas.

I sometimes get E-mails from American servicemen trying to transfer hidden fortunes from over seas and the occasional African prince trying to transfer funds. I'll forward them to you.

[opie's twisted balls]

You've piqued my interest. I am a single elderly woman with no family. I have a very large inheritance. I was recently diagnosed with alzheimer's, but I'd really like to get in on some investments, preferably overseas.
I have a buddy who's a nigerian prince/minister/shaman/gogo-dancer I'd like you to meet