Reverse auctions

[wrighty]

Seen a few recently on FB groups.

So you start ridiculously high and keep dropping price till someone says SOLD!

What do you guys think? So FB groups that say no auctions, so have to be fixed price but this bends the rules? It sort of like a dare, will you wait for the next price drop or buy it now!! :?:

 

[mumbo]

The first one I saw confused the hell out of me, didn't have a scooby doo as to what was happening. I think the explanation may have been lost in translation but once it got going it became clearer.

It's something different from the usual format, prefer the standard one myself.

 

[SAVORY100]

There used to be some tv shopping channel that used this format, so I had an awareness of it, the FB ones I saw though seemed a little disorganises. Not against the idea though...

 

[MarkG]

I've seen one particular guy do this... if not sold in an hour it's dropped a certain percentage... then a bit more after 2hours..

Can't see the point to be honest as why would someone pay potentially another few hundred on top for the sake of an hour..

 

[wrighty]

Can't see the point to be honest as why would someone pay potentially another few hundred on top for the sake of an hour..

The thrill might be the gamble you take, like Russian Roulette! Do you chicken out and buy it now or wait for the price drop and anyone can buy it before you do!!

 

[Bonsai_Tree_Ent]

Awful, the one I saw was for some rather desirable foreign cardbacks. It was posted across multiple facebook groups and of course the guy wanted to sell them internationally so multiple time zones too. Plus I guess the seller had declared it started and then gone to bed. No one bid, presumably because they didn't have a clue what the price was meant to be .