Melissa is our Consumer Shopping Trends Specialist

ave you ever dreamed of buying the latest electronics and gadgets at 85% or even 95% off of retail value? An iPod for $13.65. An iPad for $60. A plasma screen TV for only $140. Consumers have been telling us about deals like these from the new Penny Auctions site SwipeBids.com so we decided to investigate.

The amazing deals are possible because Swipebids is a unique auction site. People are catching great deals and users pay to participate in the auctions. Each bid on SwipeBids costs users $0.60. By collecting $0.60 for each bid, SwipeBids can afford to give the winning bidder an amazing deal of up to 95% off the suggested retail price. That's how we were able to see some users win such prizes as a 50" Sony Plasma TVfor only $230 (savings of 70%).

In today's economy, it is difficult for consumers to keep their gadgets and lives up-to-date. As new electronics come on to the market it is becoming more difficult for consumers to continue to buy as they are used to.

This is forcing many retailers to rethink their marketing. And many have come up with unique product distribution models that weren't possible before the Internet, such as SwipeBids--the latest online auction model.

We took the time to talk with a few of SwipeBids' customers to see what they thought. One SwipeBids' customer, Jeff Ryan, had this to say about SwipeBids and winning two of their auctions:

SwipeBids works by utilizing the "Penny Auction" model. Users pay just $0.60 to place a bid in an auction. For each bid that occurs, ten more seconds is added to the clock which allows for other bidders to get in and win--allowing for a fair playing field. Some users shared their secrets with us and the most common one was to place your bid at the 1 or 2 second mark.

You can't lose: To keep things fair, the users who don't win the auction still get to credit what they have paid in bids on that item to purchasing it at still-competitive price. This is SwipeBids's "Buy It Now" feature. While it's the big savings that makes the sites so popular, the "Buy It Now" feature makes it so there is no way to lose!

No Need to Shop Around?

There is no longer a need to spend several hours online looking to see
where the best deal is. The answer is simple. It's on SwipeBids!
Whereas scouring the internet for to save an extra 5% works for some
people, why waste your time when you could save 75%?

SwipeBids isn't just a great way to save money, it also provides the fun of the auction bidding system. Saving 75% couldn't be more fun when you know you were able to snipe it away at the last second.

If you are the type of consumer that likes to find a good deal then SwipeBids is the perfect site for you. In today's economy, we know all consumers should be more than happy to save any money they can. When we saw that many consumers were saving hundreds of dollars so easily, we had to investigate and share SwipeBids with you.

SwipeBids Winner's Secrets

As we already mentioned, SwipeBids.com isn't your typical auction site. Users, on average, save 75-80% off retail for brand new products they win, but pay $0.60 for each bid they place. We had the opportunity to talk with some of the top bidders to get their secrets and this is what we found:

1. Register and Purchase bids by buying bid packs or bid subscriptions.
2. Multiply your original bids by winning auctions for bid packs.
3. Now that you have more bids at a lower price, bid on the product you want to win and save! Try to always bid in the last few seconds in order to get the lowest price possible.

As we mentioned above, for every user that wins an auction and saves up to 90% there will be some users who spent on bids and didn't win anything. Money down the drain? Think again. SwipeBids has a "Buy It Now" feature where you can use whatever money was spent on bids towards buying the product at a discounted price.

SwipeBids "Buy It Now"

One of SwipeBids' best features is their "Buy it Now". The SwipeBids "Buy it Now" allows users to apply the money they spent bidding on a product towards the "Buy it Now" price if they don't win. For example, let's say a user bids 50 times on a $50 Best Buy gift card, but doesn't win the auction. That user spent $30 on bids placed (50 bids x $0.60/bid). To exercise the “Buy It Now” option, the user would subtract the $30 spent on bids for the item from its $50 value price, paying the $20 difference. That way, even though they didn't win, all bids placed on the SwipeBids auction can go towards buying the product.

If you're looking for a deal, SwipeBids and other penny auction websites, might be the best way to snag an amazing bargain these days.

Consumer Reviews:

"I received my wonderful, Cannon Rebel today, it is so very nice! I am so excited and ready to use it! Thank you Swipebids, you offer quality products for real people to win!"
- Judy D / Florida

"I won my MacBook + 5000 Bids for $1.56. I started bidding, was patient and paid attention to how the other bidders were bidding, I received it within two weeks of my order date."
- Charles B / Michigan

"Hi, my name is Adrian. I won both $10 walmart gift cards and I really love them. Thanks to swipebids.com I really want some more products soon."
- Adrian M / California

"I've always wanted a Mac Computer and SwipeBids made it easy. Swipebids kept me posted on the status of delivery and had great follow-up. Thanks SwipeBids."
- Wayne H / New York