as well as jewelry and gift cards for prices that start as low as a penny,” says a story in the .
The catch is there is a fee to place each bid, between $.60 and $1. Users buy packs of 10 to 700 bids at a time, then can dole them out on items they crave. The site highlights auctions that are in their final seconds.
But here’s another catch. On Swoopo, users can pre-program bids using a “BidButler,” which waits until the final 10 seconds to place your bid. But every time a bid is placed, the time left on the auction jumps up. So it can be quite exciting – and frustrating – to watch the an item’s price continue to climb as the countdown actually counts up.
Critics of penny auction sites say it is as addicting as gambling and dub them an “evil eBay.”
But…I may try it, just once. I swear I’ll be able to quit!
On the other hand, if paying $.34 for a $150 Nikon Coolpix digital camera, or snagging a $699 Apple 16GB iPhone for $8.06 is going to get you addicted, fogettaboutit!