Bid4Prizes: Reversed auctions

Have you ever wished that you could find a really, really good deal on eBay but just can't find one? Now, bid4prizes has come up with a much better way to win what you want. You pick your prize and make a "bid" for the item. The lowest unique bid wins the item. The key word there is unique. If you and 30 other people bid $0.01, you don't win. The guy down the street that bid $2.36 wins.

So, there's gotta be a catch right? Yeah, I guess so. The site is ad supported so you have to look at ads all day long. Your other option is to pay $9.99 a month for unlimited bids with no ads. Not a bad deal if you can win a prize every couple of months or so.

At the moment, there is a Scion, an iPhone, and a 50" tv up for auction. Not too bad for prizes. I'd love to see something really big. Think boats, houses, planes. Well, I dunno how any of that would work, but it'd be cool. A house perhaps. Or rather the materials for it's construction? My first bid would be 914 cents. Why? I dunno. Seems odd enough to have a chance at being unique.

It's a pretty genius idea. And a really cool concept. It seems to be on it's way to being a great site and a really good stop for many of us uncontrollable web addicts.