Koalabids is considering adding a new feature, Reverse Auctions. Our idea is that we would run a dual auction site. Our site would still run as it is, but with the addition of a reverse auction section. This is where the seller will list an item for sale, and will accept bids on the item for a fee. (Prospective buyers pay a fee, to place a bid. This fee goes to the seller, not koalabids) Instead of the highest bidder winning the item, as in a normal auction, the lowest unique bid wins. The auctions would run for a set period of time. There is only one winner. This means that buyers could end up winning an auction for very little cost.

An example would be:- Seller A lists a mp3 player for auction. Seller A might charge 50c per bid. Bidder A, places 4 bids for a total cost of $2. Bidder A ends up having the lowest unique bid of $3.24. Bidder A would need to pay Seller A $3.24 plus the $2.00 for the bids. So Bidder A just bought him/herself an mp3 player for $5.24. Bargain!

At the moment this is something we are pondering over. We would like your input. Would this be something you would use, as either a buyer and/or seller? Do you think it would add or take from our site?