Ladies and Gentlemen I present to you Swoopo, the Online Auction company that can driver bidders INSANE.  The idea behind Swoopo was first developed in 2005 by Germans (You know the Germans make good stuff) and has recently reached the US of A.  Although I don’t think it will make a dent in the Ebay community, primarily because there are no sellers, only buyers, Swoopo will certainly turn heads with their wacky, yet extremely effective Business Model.

If you’re looking for a great deal on a high end electronic device, Swoopo can be your place to find it.  Auctions prices are usually 25% – 85% below retail value but there are occasions, many of them, where the final auction price is higher than the retail value.  If you’re smart, you can actually save money on a purchase you were looking to make.  At the same time, if you’re unlucky, you can lose quite a bit of money trying to win the auction.  Please allow me to explain the concept and the madness behind Swoopo.

In a general auction, there are multiple parties interested in the same property.  Whoever is willing to pay the most is usually the winner, as long as their bid comes before the auction closes.  In Swoopo world, it’s not that simple.  Here are some of the key differences that every user should be aware of:
•    You cannot outbid the current high bidder by more than $0.15 ($0.01 in “Penny Auctions)
•    Each time you place a bid, it will cost you $0.75.  You read that correctly
•    You must prepay for your bids, and if you run out during the auction, you better buy more FAST!
•    Whenever a bid is placed, up to 15 seconds is added to the end of the auction
•    You will still have to pay a moderately  priced shipping charge
•    You will still pay the final auction price

Above you will see a typical auction and how it is presented on Swoopo.  You can see the current auction price listed in green, as well as the current high bidder “Amberger30” and the time remaining, 23 minutes, 35 seconds.  You will also find the estimated retail value, and the savings the high bidder will have if the auction were to end now.  Lastly, there is list of previous bidders located on the right.  All the tools you need in order to successfully win an auction for a real low price right? Well, before you think you can make a business out of this, think again.

Using the above auction as an example, the starting bid was $49.95.  Therefore at $0.15 bid increments, there have already been a total 858 bids!  When you factor in $0.75 a bid, Swoopo has already taken in $643.50 even before the auction closes.  When you consider the auction is not over yet (Might be a few hundred bids more before it closes) and that the winner will still have to pay them the final auction price, Swoopo stands to profit 300%-400% on this PS3, for little to no work at all!  Just as I type this, the current price is up to $189.45, adding another 75 bids and $10 to the Swoopo windfall.

So why should you join this service?  Well, if you think you can swoop (Sorry for the cliché, I have written Swoopo so many times the word has lost meaning (not that it had any to begin with)) in and win an auction at the end, you really can walk away with a hell of a deal.  Be prepared to lose a few times before you win though, and most importantly don’t be afraid to walk away if the price is too high and you have already invested in the auction.  Swoopo makes most of their money on bidders who fear putting in a lot of money and walking away with nothing, forcing them to see the auction to the end.  Don’t get caught in the trap!

To try your luck at the amazing auctions of Swoopo.com, Sign up for your account now!