Priceline is a cool company. They appeal to a niche of people that are looking for a great deal and are not as discerning on exactly what airline they fly or when they fly. But priceline finds them good deals because the airlines often have open seats or last minute cancellations.
You can imagine the Priceline concept applying to many other verticals. One crazy idea would be priceline for weddings …
A certain percentage of weddings get cancelled within 2-4 weeks of the date (I’ve been invited to a couple that have been so cancelled). At that point, most of the wedding, the food, the help, the alcohol, and a while bunch of other things are already paid for. In fact, it is quite possible that 80% of the wedding is already covered.
In the event of a cancellation, usually the couple loses all of their deposit … or they might throw a party (I know … weird … but it does happen) to at least get something out of the large amount of money they put down.
Instead, they should be able to sell their option and maybe recoup 25% of the money they already put down to another couple. Then that new couple would face a fantabulous wedding (as long as they were not too discerning) for 40% of the price. A steal.
And while this is highly unlikely given that people have a high emotional attachment to weddings, you could imagine this type of aftermarket springing up for events. You might be willing to throw a party in two weeks, somewhere near your home city, if you got a great deal … (and I hope I’m invited if you do)
I just read your blog and I agree with you… It is a great idea which is why my brother and I had started the website, http://www.idonowidont.com (I Do…Now I Don’t). If you get a minute, check it out. I Do Now I Don’t is a unique auction site/social network for people who have gone through or are going through broken engagements, break-ups and divorces and are looking to move on with their lives. We believe that part of this process is often related to the selling off of relationship-based items, like engagement rings and other wedding related materials which is done through our auction platform.