Websites allow customers to name their own price

Websites allow customers to name their own price

Unless you're on an auction site, most of us pay whatever price is advertised.

But there are online shopping companies where some say a good deal is guaranteed because the consumer names his or her own price.

Savings can reach up to 50 percent.

A handful of websites allow consumers to name their own prices for everything from gadgets to furniture.

One called Greentoe takes an offer and then tries to find someone willing to sell it at that price. The sites founder says customers can save around 20 percent.

"There really is a secret out there and the secret is if you ask for a lower price you can probably get it," says Joe Marrapodi.

Scott Scher found the guitar he wanted on Greentoe, worth about $350.00. 

He bid $150 but eventually settled on $200 using Greentoe's "make an offer" guide. It calculates your chances of getting an offer accepted.

The fashion site Garmentory has a similar scale. But it's up to the seller to decide how low they will go.

"Of course you're going to get some requests you can't fulfill. Maybe it's just too low," says Courtney Bonnell from the fashion consultant agency Favors.

Stacey Pashcow consigns furniture. She hopes to sell a cabinet and lamp on the furniture resale site Viyet. It's something of an upscale flea market where buyers name their own price.

"Something is only worth what you can get someone to pay for it anyway," says Pashcow.

According to online shopping expert Catey Hill, people enjoy this form of digital haggling.

"I'm not gonna pay what you asked. I'm gonna pay less and some people really love that," she says.

And that's why these sites are expected to increase in popularity.

For more tips on successfully negotiating just about anything, click here.

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