eBay on Monday released a new app for the iPhone and iPod touch called Deals, giving users the ability to find the best deals on eBay. The app gives users access to eBay’s Daily Deals, which are limited quantity items from trusted sellers with free shipping. You also have access to search eBay’s deals, which are defined as hot, must-get items with zero bids and less than four hours of listing time remaining.

The app comes with social networking integration and push notifications to alert you when you are being outbid or when time is running out on an auction.

Other iPhone features include “Shake for Deals” that allows you to take advantage of the iPhone’s advanced hardware by choosing deals for you when you shake the device.

eBay Deals is a free app available from the App Store.