NEWS: Runway Bidder is our new obession

A designer handbag for under $30? We probably shouldn't tell you this...

One of the hardest things working at Cosmo HQ is seeing beautiful items every day. On a weekly basis there are conversations about the difference between want and need, and if that gold leather jacket is really going to make our wardrobe complete (the answer was yes).

As you can imagine we're already having a love/hate relationship with Runway Bidder, a site which is set to become every girls fashion secret.

It recently launched in Australia it features designer handbags and shoes up for auction that you can score no matter what your budget. Need proof? How about a Chloe bag for $23.06? or Christian Louboutin Pumps for $40.06? Yep, you get the jist.

How it works- you register online, buy a bid package and then place a bid on the item you want (each bid costs you 70 cents). Whoever has the highest bid wins- it's that simple.

When we heard about this, the first thing we wanted to know was - is it too good to be true? Runway Bidder rep Michelle filled us in, "The items come from Runway Bidder affiliate sites including, Netaporter, Bergdorf, Saks, Shopbop, and more. The reason why they can be sold so cheaply is that every bid contributes to the cost of the bag - so basically all participants in the auction subsidize the cost of the item."

With names such as Chloe, Bottega Veneta, Christian Louboutin, Jimmy Choo, Yves Saint Lauren, Gucci, Manolo Blahnik and McCartney appearing regularly we're keeping a close eye on the site. Or maybe we shouldn't tell you that at all…