Wednesday, March 17, 2010

Reverse Auction for Hamptons Rentals

Bid on the City will hold auctions on March 26 and April 9 for various Hamptons rentals. However, these auctions operate in reverse with the price dropping. The rents cover the time frame of Memorial Day to Labor Day. The way the auction works is that the auction will start at a set price then drop by $500 every 15 seconds, until someone bids. The first bidder wins the auction.

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