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Nick of Time Auctions
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Nick of Time - 24-hour last minute travel bargains
Nick of Time Auctions allow buyers to bid on flights and hotel rooms for really last-minute deals. The auction offers deals for flights or hotels to be used within 24 hours of when they are posted.
Here\'s how it works:
Nick of Time Auctions are posted by airlines and hotels, and e4one buyers get to bid on deals that keep decreasing in price, starting 24 hours before the deal takes effect.
Much like Inverse Auctions, Nick of Time Auctions are listed by the seller (for this type of auction, only travel companies can post items for sale) at a certain starting price. The seller also lists a minimum price under which the item will not sell, and this price is invisible to buyers. The seller picks a Decreasing Time Interval and a Decreasing Amount (also invisible to buyers), so the item.s price keeps decreasing at these intervals. The only thing visible to bidders is the current price and the original price.
The first to bid on the item gets it.
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