|Description||Multi-unit flash auctions|
Pegwise offers a new kind of marketplace where customers choose the price they want to pay for products.
Pegwise was created to bring companies and consumers together in a system of perfect price discrimination: consumers pay what they think an item is worth, and companies let their products go at prices that still allow them to make a profit. Itâ€™s a simple and (if we do say so ourselves) elegant idea.
Each day we feature an item up for auction with a secret reserve price set by the supplier. If a user bids above the secret reserve price, they win the auction and pay the price that they bid. If they do not bid above the secret reserve price they lose the auction and are never charged for their bid.
Itâ€™s still a deal. Itâ€™s still less than retail. But itâ€™s a wiser way to get a price thatâ€™s fairâ€”for everyone.