Revolutionary reverse online auction website launching soon in NZ to change the way we buy and sell online.

“Pricedrop.co.nz is a revolutionary website launching soon in New Zealand where you can buy and sell just like a bazaar (online market place for buyers and sellers),” states the holding page of the soon-to-be-launched website.

The difference here is that the site promises that prices will go down on everything, rather than users bidding to increase them like models such as Trade Me. “Buy when you think the price is right for you. No more bidding on auctions where prices go up,” it promises.

The company behind the site calls this a reverse auction and saying that no bidding is involved. Not much has been revealed at this stage, but it seems the products are listed and then the prices start to fall using a price descending model which is represented by a timer. Every time the timer reaches ZERO the amount of the product falls at random values. Buyers can buy the item when the product price is falling. Buyers and Sellers seem to have control, as sellers will have total price control and buyers will be able to buy when the price is right for them as the Facebook page says, a description of how things will work once live reads, “What we have here is an interesting concept of prices falling at intervals and let the buyer decide what price is suitable for them.”
This seems to be a much more user friendly business model compared to traditional Online Auction websites.

A launch date has yet to be confirmed but you can visit the site to join their mailing list to keep informed on the launch. www.pricedrop.co.nz