Wanted to get everyone's opinion a selling format: automatic markdowns (does anyone remember Filene's Basement?). There's an initial price which is marked down on a schedule until it sells. Buyers can buy immediately at the prevailing price or wait for a discount. However if they wait, someone else might snag it. Could be a day between markdowns, a week, a month, whatever.
Could you see this being a useful way to sell certain items? I'm thinking about semi-unique items that you might consider putting on Ebay or Craigslist. But also closeout type merchandise that you put on sale for half off (or whatever).
Do you think buyers would understand how this works? And not think it's a gimmick? Would it be too much work to sell individual items?