Luxury bargains

How cool is this? A new internet auction site called Saveoo.com is hoping to become an eBay for big spenders by turning the traditional auction model on its head.

Instead of shoppers bidding against each other for goods and pushing up prices, Saveoo.com gets sellers to compete by offering the lowest price to a potential buyer. The site's UK-based founders hope it will lead to savings worth thousands of pounds on big-ticket items like private jets and luxury watches.

Unfortunately, it's a UK-only site at this point, but I think it's an immensely clever idea. Especially because you don't have to give out your credit card information and have to purchase the product directly from the dealer.

Such coolness.

Source: Times Online