An online service
that claims to offer great rates
. <(how's that for ironic noding?) >Anyway, the long and short of it
is that you enter the price
you would like to pay for an item
(by way of example, let's just say an airline ticket
) and it tries to find a deal
The catch is that you have to have a good understanding of the lowest available prices to make a good bid. If you bid too high, you may pay more than retail. If you bid too low, you can try again; however, you must change something other than the price. (In our example, you might have to take the option of flying on a prop-engine deathtrap from a grass field in the middle of nowhere at 1:00 AM along with 23 other passengers, 9 of whom are psychotic killers. OK, so I exaggerated a little bit.) When you get right down to it, Priceline is a demonic form of The Price is Right, only without the nifty 70s music.
Oh, and one more thing: if it does find the price for you, it automagically purchases it for you on your credit card without your final approval. No refunds, no exchanges, no nothing. So if you picked a price that was too high or something is otherwise unsuitable, you're just outta luck pal. If you didn't already hate William Shatner, you should now.