If you are eBay auction-addicted, but are looking for a new way to find some high-end items relatively cheap, then SWOOPO may be the auction site for you.
Like eBay, it’s an online auction site.
But unlike eBay, where eBay makes money from the seller (auction posting fees) and from the buyer (taking a percentage of the final auction price), Swoopo uses a slightly different pricing model:
Everything starts out with the same minimum starting price, but bidders are charged $0.60 for every bid that they make… whether they win the auction or not.
Swoopo has sold a $1500 40-inch Samsung TV for $67.92.
It’s that 60-cents per bid that gets users in the end. Since the bidding threshold is in pennies rather than selectable by the bidder as it is on eBay, bidders on Swoopo end up making a lot of 60-cent payments for the privilege of trying to get something cheap. And Swoopo has implemented one feature that frequent eBay users have been clamoring for: as long as bids are being made, the auction continues to stay open. No more bidding frenzy in the final seconds, hoping to get your bid in on time. With this small change, Swoopo can get maximum dollar values for each item listed.
For example, a 320GB external hard drive just went for $11.64, costing the winner $9 in bidding fees. Not a bad deal.
If you’re going to bid on Swoopo, be aware of what you can get for the item elsewhere at your local stores, Amazon, or other discounter. With the bidding fees set as they are, it’s possible that you can spend the Actual Retail Price in fees just to save 50% on the bid price of the item. And still walk away without it.