Penny Auction REVIEWS – Which Penny Auctions are the BEST Bargains?

Major penny auction websites Swoopo.com and OohILove.com have recently shut down. It is unsure exactly why they have closed their doors, but it’s most likely linked to a lawsuit filed against the two sites, as well as 4 others (Quibids, Beezid, BigDeal, and BidCactus). You can read about the lawsuit here- Penny Auction Lawsuit.

Swoopo.com was the first online penny auction website to use the bidding systems we know today. They were established in 2005 in Germany, and claimed to have over 2 million customers. OohIlove.com was the most popular penny auction website for designer items, such as purses, jewelry, and high-end retailer gift cards.

Swoopo also has another lawsuit filed against them in California, which was filed on March 21st. The details on that lawsuit are available here.

Swoopo’s message on their site claims the site is down due to technical reasons, but it’s been down since March 17th. OohILove displays a different message “Dear oohilovers, It is with regret that we announce oohilove.com, an Entertainment Shopping Inc. company, is closing its doors.” Both websites are owned by the same company, Entertainment Shopping, INC.

We’re waiting to see what kind of effect the lawsuit mentioned will have on the other websites listed, as well as the penny auction industry as a whole.

Website: Swoopo
Entertainment Shopping AG
Domagkstrasse 34
Muenchen, Denmark 80807
MVoigt@swoopo.com
Domain Registered: July 2008

According to InsolvenzBekanntmachungen.de, Swoopo’s Shopping Entertainment AG has entered into bankruptcy proceedings in Germany, this could only mean that the reason their website has been down since March 17th is not due to technical difficulties, but financial ones. Time will tell if this bankruptcy will be a full liquidation of assets or a court appointed financial restructuring campaign, either ways bidders can get a full refund from Swoopo by contacting there Credit Card companies and starting a financial dispute, a refund should be issued within 30 days.

In this video, “ytreviewz” points out that while Swoopo is a legitimate operation that ships off prizes to winners just as they promise, it is still a scam in other ways. The video is an illuminating look into how penny auctions work.

Website: Swoopo
Entertainment Shopping AG
Domagkstrasse 34
Muenchen, Denmark 80807
MVoigt@swoopo.com
Domain Registered: July 2008


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Swoopo, undeniably has the largest selection of items of any penny auction on the web. They are in multiple countries and are considered  the penny auction heavyweight titan.  If you want it, Swoopo has it on auction, with about 200 items on auction at any given time,  a crafty bidder has the chance to take home a great deal if they have the patience.  Winning or Losing depends on the bidders skill of auction price and time negotiation. There are many people who have won and who have lost on swoopo, but one thing is sure the more time you spend bidding on the auctions and acclimating yourself to swoopos bidding procedures, your skill in auction price and time negotiation should improve dramatically.

Update: 4/24/10

In the world of online penny auction sites, Swoopo is regarded by many as the king. Established in 2005 in Germany, Swoopo is widely considered as the first ever online penny auction website to use the bidding system other auction sites use today. The site claims to have auctioned off 200,000 items since its establishment 5 years ago. As to how many of those auctions were legitimate remains to be seen.

Swoopo also claims to have over 2,000,000 registered customers – something that’s very likely, given its global presence in the market.

Because of the site’s worldwide reach, bidding competition at Swoopo is nothing short of fierce. The penny auction site has an immensely vast array of products. Think of any electronic device or home appliance, chances are, Swoopo has it. At any given point in time, the site has over 50 ongoing live auctions; that’s one of—if not—the most any penny auction has to offer.

It’s worth noting that depending on your location, the site you’re using is only a local portal for the global Swoopo network. For example, typing in Swoopo.com results in Swoopo.co.uk if you’re in the United Kingdom. Now since the site’s servers are located in Germany, US-based bidders might experience timer lags, making it annoyingly hard to bid at an auction.

And as if that’s not enough of a factor to lessen your chances of winning, remember that you’re bidding against thousands of live bidders, so don’t expect to win anything. Indeed, it takes some major skillz to be effective at Swoopo.

One issue plaguing Swoopo is the alleged use of bidding bots that go against registered users. Swoopo denies this of course, but there’s no way of really being sure when it comes to online penny auctions.
Penny Auction