Bargain Blog
Lowest online bidder wins? Yep
Story on the McClatchy News wire about BidZone, where the sale goes to the lowest bidder. Yes, the lowest. Here's how it works:
All of the items up for sale at BidZone, which include computers, TVs, cameras, cell phones and household items, begin at a discount price.
You have to buy a "bid," which normally costs 50 cents, in order to have a shot at getting the item.
That allows you to see the hidden current price of an item and lowers the price by another 50 cents.
That continues until someone decides to buy it.
You are given five bids for free if you register at BidZone under a current promotion.
"It's this 'collective buying power' model that gives BidZone the ability to offer these products at a much lower price," according to the wire story. "Selling bids to registered users at 50 cents a pop lets BidZone make a profit while at the same time it lets them sell more for a lot less."
Accompanying Photos
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