| If you are new to the world of hotel reverse | | | | When you are participating in a reverse auction hotel |
| auctions/ bidding, you must do some research before | | | | process of any hotel always gets an idea about the |
| bid on hotel rooms and travel services. New online | | | | fair value of the room cost in that hotel. You can get |
| bidders can be paying much more for an item than is | | | | the same from the travel Meta search engine sites |
| necessary. Here are some things that you should look | | | | like They will give you an idea that which other online |
| for: | | | | travel sites is selling room in a hotel and at what |
| 1. Type of Auction: | | | | minimum cost. |
| Is it a Dutch, English, Sealed-Bid or Vickrey Auction? | | | | 7. Reverse Auction Newsletters: |
| Most online hotel auctions are the Dutch-style, which | | | | You should sign-up for online auction newsletters, like |
| means the auctioneer asks a certain price as a | | | | one is available for the registered user of http:// |
| minimum (called a reserve) and the bidders keep | | | | especially if you are not a regular visitor to this hotel |
| bidding until time is up. The person who has out-bid | | | | bidding site. |
| the others wins and then must pay for the item. | | | | 8. Sniping: |
| Other types of auctions include business to consumer | | | | It has happened to all of us. No one has outbid you |
| orconsumer-to-consumer. eBay is the | | | | on the item you want. Your bid has been the top bid |
| consumer-to-consumer model where almost anyone | | | | for about a week. You check your bid moments |
| can sell their wares and anyone can bid on the item | | | | before and when you turn away from the computer |
| or service. All though is a business to consumer | | | | for one second a sniper comes in and outbids you |
| auction site for hotel room, where there are trusted | | | | and wins. Who is to blame? You are, in most cases. |
| Indian hotel chains who sell their vacant hotel rooms | | | | A sniper can be bidding on his own or can use |
| by reverse auction process. | | | | automated bidding tools to outbid you. There is |
| 2. No Reserve Bids: | | | | nothing illegal about it. |
| This means there is no minimum amount you must | | | | 9. Bigger is Not Necessarily Better: |
| bid before the auction will send you the item. This is | | | | It’s not always better to bid big for the hotel |
| a great way to save money and get great items | | | | rooms. Because when you place a bid for hotel |
| – generally, there is no catch. Check the details | | | | rooms on site like you are practically buying the |
| before bidding. is also using the same pattern for | | | | vacant rooms and you can have a great chance of |
| hotel rooms. | | | | bidding the bid even at the 50% cost. |
| 3. Packing & Shipping Costs: | | | | 10. Oops…oh my God ! |
| Always, and I cannot stress this enough, always | | | | In the world of online hotel room reverse auctions, or |
| check to see how much the shipping charges are | | | | any other auctions for that matter, a bid is a bid, and |
| before you bid! There are many examples of people | | | | it is like taking your finger off a checker. You made |
| having the winning bid on an item and then realizing | | | | your move and now you must live with it. If you |
| the shipping fee is more than the cost of the item. | | | | must renege, you will be considered a bad person, |
| 4. Spending: | | | | regardless of the issue. This is because you have |
| Always know the maximum amount of money you | | | | driven up the cost of the item for other buyers, you |
| are willing to spend for your hotel room or travel | | | | have promised the vendor that you will buy and now |
| services. Also, do your research to find the fair | | | | you have just gone back on your word. What do |
| market value of the room in a particular hotel. | | | | you expect? Only, only, only retract your bid when |
| 5. Questions & Contact Info: | | | | absolutely necessary. Thin09k before you bid for |
| A reputable auction site or hotel room seller like will | | | | hotel room or any other travel services. |
| have easy to find contact details to answer all of | | | | Following these basic rules will help you in the online |
| your questions. If you find no contact information, do | | | | reverseauction world. These are not the only things |
| not bid on anything. Chances are if you want to | | | | you should know, just the basics. Spend some time |
| cancel / amend it or if the item is not as promised, | | | | watching the auction before bidding and see how it |
| there will be no one to contact then either. | | | | works. Happy Bidding! |
| 6. Fair Value | | | | |