If you’re searching the web for a good deal on the latest technology then you may have come across a reverse auction website.
Unlike eBay, a reverse auction is won by the person with the lowest unique bid, but this doesn’t necessarily mean that you’ll be getting the best deal.
Sure the winning bid on an iPad 2 may have been under a dollar, but the website easily makes a profit on the auciton by charging users for each bid.
Membership to these Reverse Auction sites is usually free and but bids can cost up to a few dollars each…which means if you don’t win, you’ve simply helped to fund the auction.
Get more information on Reverse Auction Websites at http://en.wikipedia.org/wiki/Reverse_auction
