How does the bidding process actually work?
Our bidding engine implements a patent pending transaction arbiter which performs a series of mathematical functions and systematically determines what the lowest price of a product would be based on participant merchant defined criteria such as how low can their price go and how close (percentage wise) can their price be under the closest competitor, these parameters are only known by the individual bidders. The bidding process can be initiated manually by a consumer to obtain instant results, or by presetting an automatic bid run time.
Our bidding engine implements a patent pending transaction arbiter which performs a series of mathematical functions and systematically determines what the lowest price of a product would be based on participant merchant defined criteria such as how low can their price go and how close (percentage wise)can their price be under the closest competitor, these parameters are only known by the individual bidders. The bidding process can be initiated manually by a consumer to obtain instant results, or by presetting an automatic bid run time.
