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Technology Stocks : Booking Holdings (formerly Priceline)
BKNG 4,769-0.7%12:32 PM EST
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To: jef saunders who wrote (2387)8/2/2000 9:23:14 PM
From: SAPGuru  Read Replies (1) of 2743
 
You where asking: where else can I go to name my own price?

I do this all the time on a vary of auction sites and this is also the reason why this concept is no different from a lot of other models, at least fundamentally.

One good example is the bid butler or automatic bids on auction sites. I want to pay a maximum of 248,- for a DVD player on UBID.com. By using the bid butler, it will automatically raise my bid until my own maximum bid price. After arriving at the max bid price I lost the auctions, because my bid butler will not raise my bid anymore.

Priceline give you feedback in an hour and then give you the information what the discount price is. In this way you can change you 'name your own price' to the discount price and that will work. Because they know what prices will succeed, so its closer to discount retail.

Priceline could do a lot more in order to expand the concept, but that will probably take a lot more evolution of the business model. Like, changing the dynamics of the one hour feedback to a longer time or flexible set by the buyer. In this way Priceline could keep your price for a period of time and come back when somebody is ready to deliver.
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