Polaroid 7MP Pink Camera - Falling Auction Currently £52 + P&P

k4peppa

Aidy wrote: »

I know what you mean - seems too good to be true. However website states:

What is a falling price auction?


In this type of auction the price of a product decreases from its start price until it closes or sells out. A set quantity of the product is available and the first people to "Buy now" will win. So simply choose to "Buy now" at the price you wish to pay, and wait for the auction to close - remember everyone pays the lowest price!". Even if you entered the drop at £150 if the price continues to fall and the auction closes at £10, you will only pay £10!

Alternatively you can choose to "Bid now" by entering a price you wish to pay for the product.

If the price falls to that amount or lower you get the product. Your product is only secure if the price falls to your bid amount.

You can still choose to "Buy now" or increase your bid. You can only ever buy one product per auction.

Remember everyone pays the lowest price.


As there is no Buy Now price I assume everyone gets it for £1.

I did ring up and got the same explanaition (in broken English!!;))

The auctions do drop from the listed Starting Price, but there seem to be (undisclosed) reserves, which they will not drop below. On the tv deals you can bid low and hope, but unfortunately the chances are you'll miss out with very low bids. Have a look at the previous auction section for final prices?

The camera in the Gone thread was unusual in that it featured a Buy Now option for £1 - this rarely happens. Sadly!

Good luck though - it looks nice!

deanos

Ive placed a bid , as its a falling auction it can only get lower.

It did suggest i bid £55, wonder if they have set it up wrong and it should be a rising one

be877

£1 is "the minimum price"!!!!!!!

deanos

be877 wrote: »

£1 is "the minimum price"!!!!!!!

Its a FALLING auction not a rising one !

Miss_Dior_x

I think they meant to list it as a rising one.
The quantity hasn't gone down at all, like it would if it was a falling price one.
And it says "bid from"

durham_girl

Just found this too, falling price auction at £1

18v cordless drill and 3.6v screwdriver

Grapey

If you look at the link, the start price is £90. This is the price it will fall from when the 'auction' starts this afternoon. If you bid at £1 then you will only get it if it drops from £90 to £1, if it drops to £30 you won't get it.

You can bid from £1 at the moment because there is always a chance it will fall from the start price of £90 to £1 but it isn't currently this price.

SkydiveMacca

Just read the info on the site.

As there is no buy it now price, you make a 'bid'. There is a hidden reserve on the item, which if you bid above by the close of the auction, you will get the camera at the lowest price.

You can bid from £1, but it doesn't actually mean that's the sale price. In fact, it says, if your bid is lower than the sale price (that they have in mind) you will not purchase the item.

Sorry all

deanos

Hidden reserve ?

If you watch the auctions on the TV they start at a price in this case £90 and keep getting lower until everyone has bid and it keeps falling until they have all sold in this case £1as its a falling auction

Are you saying the web site works different to the TV sales?

k4peppa

deanos wrote: »

Hidden reserve ?

If you watch the auctions on the TV they start at a price in this case £90 and keep getting lower until everyone has bid and it keeps falling until they have all sold in this case £1as its a falling auction

Are you saying the web site works different to the TV sales?

There are 2 types of item on the web site:

The web clearance items you can buy now at a known price.

The TV deals (like the camera listed by OP) have a high starting price and then drop to more realistic prices when they are featured on tv. Watch the channel at 18.29 for the camera auction, +/- 5 mins. You can pre-bid via the web site on the tv deals, but until the actual tv auction you will not know the final price that Bid TV have in mind.