Freaking Brilliant
http://www.swoopo.com/
This is an auction site, but with a twist. You buy bids for $1/bid, and have a stock of bids available in your account. Any time you click to bid on an item, it only increases the price by $0.15, but it also extends the time on the auction.
I’ve been watching an auction on a Playstation 3 for a few minutes now, and it has consistently sit between 5 second left and 2 minutes left, and I’ve watched the price go from around $95 to around $105. People keep bidding as the time gets down to 20 seconds or so (because you’re always willing to bid another 15 freaking cents on a PS3 for around 100 bucks), which then ups the time left by a few seconds.
So think about that – the current price on this PS3 is only $123.15, but since every auction starts at $0.15, and every bid only raises that by $0.15, the site has already made $821 on this auction! If it ended right now they’d make another $123.15 + the shipping fees they charge. They’re selling a PS3 for around $1,000, but making visitors think it’s an amazing deal because someone got it for $100.
I am stunned by how brilliant, and sort of evil, this is.


