House & Home (128)
Houses can go backwards
After many months without finding a buyer for his home, David Garcia decided to launch tupisoporuneuro.com , where potential buyers can bid for his house via reverse auction. The bids have a minimum of 1 euro and a maximum of 150 euros and the winner is whoever makes the lowest bid that is not repeated. The scheme works by charging bidders per bid allowing the operator to recoup the cost of the property and auction process.
Why it matters
The reverse auction trend has been buoyant for some time now, and now it appears to be property’s moment. As more and more buyers struggle to enter the market, will auctions become a route to affordable housing? What will this mean for property marketing on the whole?
Related articles
If you buy a live Christmas tree from IKEA, you can give it back to the shop (up until February) and get half of your money back.
Yellow Strom is keeping its customers informed by enabling meters to tweet about energy use. Each smart meter has its own twitter account which is updated with individual household energy usage. Thus, consumers can monitor and adapt their energy use to save money and help the environment.
