5 - Take part in an auction

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In the world of travel too, bidding in an auction can bag you a bargain, or even the holiday of your dreams at a price you never thought possible. There are several websites which sell holidays based on a bidding system. One is auctionair.co.uk, which claims that the vast majority of winners have never paid the recommended price for anything that they have bought. Here you can either bid for holidays or weekend breaks which fall under a high bid system or a low bid system. The former sees the highest bid win the holiday, whereas in the latter, the break goes to the person who posts the lowest unique bid. If your bid fails, they will allow you to bid a second time free of charge. priceline.co.uk has an innovative 'Name Your Own Price' system for hotels, which they claim can save you up to 40% on your stay. You first choose the town you would like to stay in and the dates desired. Next you specify the area of the city, then the star-rating of the hotel you'd like and how much you are prepared to pay for the room per night. After filling in all your details you'll find out whether your bid has been accepted in which case you end up paying the amount you suggested. If it fails then you'll have 24 hours to put in a new bid. ebay also has some holidays up for grabs as well as genuine vouchers from the big tour operators. Going, going, gone!

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