Founded in Germany in 2005, Swoopo is one of the world’s most innovative auction sites. Based on a unique software solution and business model, the company sells premium products like: computers, cameras, game consoles and even cars, at very low prices, according to its Web site. Swoopo auctions over 10,000 products per month and has more than 1.2 million registered customers, its Web site says.

Here’s how it works: online customers buy “bids” in advance. They are sold in packs of 40, 75, 150, 400 or 1,000, and cost 60 cents each. Bidders have the choice of using an electronic bid assistant called the “BidButler” or of placing single bids.

Every bid placed increases the auction countdown by up to 20 seconds and the price of the product by 12 cents. The amount spent on bids by the customer and how much the bidder would save overall, if they won the auction at that moment are displayed on each auction to help the customer keep track of the money spent on bidding.

The “last bidder standing” when the countdown reaches 0:00 wins the auction — usually at a very low price. Winners save, on average, 65 percent when compared to the recommended retail price, according to the company Web site.

Swoopo was successfully launched in the UK in December 2007, followed by Spain in May 2008 and the US and Austria in September 2008.

Swoopo is an Internet company with a unique, worldwide business model. As the self-proclaimed creator of “Entertainment Shopping” on the Internet, Swoopo further states it is one of the first companies to combine e-commerce and entertainment. From the first to the last second, all of its auctions are buzzing. Top of the range, brandname products are available for every user at extraordinarily low prices, Swoopo’s Web site states.

Its Web site states that the company’s staff has the passion and ambition to carry the Swoopo idea from its origin in Munich to the rest of the world, on the way establishing the company as a major international e-commerce player.

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