StuffBuff combines the “old” and the new in a sexy sort of way, its founder says with a smile.

“I like to say that if a young and sexy Twitter got together with an older and more established eBay, then StuffBuff would be their love child,” Michael Langer, company founder and CEO, says   in this video.

StuffBuff is an early stage startup speed-auction technology company that is doing some interesting things with mobile, real-time technologies and PayPal’s new APIs to accept payments.

In this building43 interview conducted at the PayPal X Innovate09 conference, Langer talks about the auction space and how the changing face of technology is opening new opportunities.

StuffBuff speeds up the traditional Web auction by pushing the bidding into real-time action in “extreme auctions,” says Langer.

The company made its debut in September in the TechCrunch50 2009 Demopit after a year of development. It launched a private beta in November.

Items are sold in brief, chat-based auctions with buyers and sellers working in real-time action using AJAX Push technology, Langer explains.

Auctions can be embedded as widgets in Web sites, blogs and social networks, enabling advance advertising and letting anyone get into the action.