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. Here is how it works: online customers buy "bids" in advance. They cost $0.60 each and are sold in packs of 40, 75, 150, 400 or 1000. Bidders have the choice of placing single bids, or, using an electronic bid assistant called the "BidButler". Every bid placed, increases the price of the product by 12c and the auction countdown by up to 20 seconds. To help keep track of the money spent on bidding, each auction displays the amount spent on bids by the customer and how much the bidder would save overall, if they won the auction at that moment. The 'last bidder standing' when the countdown reaches zero, wins the auction - usually at a very low price; winners save, on average, 65% when compared to the recommended retail price.