Online Auction Site, Pricefalls.com, Launches
New Shopping Destination Uses 'Dutch Auction' Bidding Model Consumers Bid to Get the Best Deals Online, Merchants Profit More
LAS VEGAS/PRNewswire/ -- Pricefalls (www.Pricefalls.com),
an online reverse auction site, announced today its online marketplace
is now available to the general public as a Public Beta.
Pricefalls uses a 'Dutch Auction' or descending pricing model that
creates an entertaining shopping experience where prices constantly
decrease. Shoppers can bid for the best deals on today's most
sought-after consumer electronics, sporting goods, toys, clothing,
accessories and more.
"With the economy still biting and the 2009 holiday season
approaching quickly, many people will be turning to sites that list
popular items at lower prices, like Pricefalls.com, to get the best
deals," said Elliot Moskow, CEO of Pricefalls.com.
Using Pricefalls, the bid for any item starts at a merchant's
predetermined price ceiling. Shoppers can either purchase the item
immediately during the "Catch it Before it Falls" period, when the
price remains at the ceiling, or they can wait until this period ends
and the item price begins to fall. The auction continues until the
winning bid is placed or the predetermined price floor is reached.
Merchants using the site can use the Pricefalls "MyAuction"
interface to easily and quickly relist any unsold items, communicate
with customers and edit their online store, and more. Local, small
merchants currently use Pricefalls as an online marketplace for goods
sold at brick-and-mortar locations.
By taking the 'Dutch Auction' bidding model, which was originally
created by Dutch tulip merchants, and applying it to online shopping,
the site benefits both consumers and merchants. Shoppers can get better
deals on goods, while merchants can make more - any items sold through
the site are never sold below the predetermined price floor.
About Pricefalls.com
Pricefalls is an online reverse auction site that serves as a
complete online marketplace for consumers and merchants. Pricefalls is
unique through its use of a 'Dutch Auction' or descending pricing
model. Using this model, items up for auction on the site start at a
predetermined price ceiling and drop throughout the bidding period.
This helps consumers get the best deals, while also enabling merchants
to get more for each item they sell through Pricefalls. For more
information please visit www.Pricefalls.com.
Source: Pricefalls
CONTACT: Rachel Honig or Tiffany Guarnaccia, both of G. S. Schwartz &
Co., +1-212-725-4500, TGuarnaccia@Schwartz.com
Web Site:
http://www.pricefalls.com/
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