How does Priceline's 'name your own price' work?

Does Priceline's Name Your Price Really Work?

• About how much can you save using Priceline's Name your price network? Do you have any tips for low-balling/getting the best price?

• Answer:

  I have only bid on hotel rooms, and it has worked out well. You must establish an account with a credit card. This is not a big deal. I have had an account for 3 years, and have had no problems. Once you have bid on something, if the bid is accepted, it is charged to your credit card, and there is no getting out of it. ( Actually they may offer insurance if you fall ill, etc.) You pick the city. They ask which neigborhood you want to stay in, and offer a map. They will give you an idea of what the average price of hotels by star rating. You then chose a hotel by star rating and neighborhood, and bid. ALWAYS make a low bid. The worst thing that will happen, is that your bid will be rejected. You can always increase the bid. Last month, we got a hotel in Amsterdam, NL for $125.00 that normally is over $400.00. We also have used it in the US, getting some of the nicer hotels for less than half price. If you want to practice, without getting burned, you can bid $50.00 for a 5 star hotel. You can be sure the bid will be rejected. I still use other sights when I cant find good deals with Priceline. Have Fun!