PriceDrip.com is a clever auction site where you can buy anything from iPod’s, HDTV’s, Video Games, Fitness Equipment and more! What’s so clever with this site is that the prices are dripping instead of increasing on like a normal auction site. The whole idea with the site is that the prices are dripping until the auction time runs out or the highest bid is reached.
That means that for example the Sony 32-inch TV found at the main page when I visited the site got an original price of $999. Every time someone is visiting the auction page for that item the price starts dripping until the auction is over or the highest bid has been reached. In theory you could place a bid of just $1 and wait for the price to drip down to $1 and you would get the TV for just $1. This is not the always the case since someone else may be willing to pay $2 or even a higher bid for the TV (since it will still be a good deal) and the price must drop down to $1 before the auction time runs out.
PriceDrip says that the prices will drop every time someone is visiting the auction page, so by recommending the site to friends and family you could help the prices to drop even more. I don’t think this is the only explanation for the prices to drop since the prices must drop, otherwise no one would win any auctions and the site wouldn’t be interested at all.
My theory is that the prices will drip the same amount as the number of bids they get. Each bid costs about $0.83 and $1.00 depending on which bid pack you buy and therefore the prices would decrease the same amount as PriceDrip.com will earn on the number of placed bids. Just have a look at the chart below:
If a product costs $1,000 in the beginning of the auction and one bid is received then the price would drop about $1. If the highest bid is $999 PriceDrip.com will still earn $1,000 for that product since they would get $999 for the product and $1 for the bid. With two bids the price would drop to lets say $998 and PriceDrip will earn $2 on the bids placed.
Hopefully PriceDrip will get more bids then the difference between the starting price and the winning bid. For example if the highest bid is $997 and PriceDrip got ten bids they would make $7 more in profit then if they sold the product for $1,000 (the starting bid).
With a little bit of tactics you should be able to find bargains at PriceDrip.com so check them out.
