Greentoe web site: Name your own price for TVs, electronics, cameras and tablets

Everyone is familiar with Priceline, where you name your own price for airline tickets.

Well, what would you think about naming your own price for electronics? That's what a new online retailer is offering.

Greentoe is a web startup that some are calling Priceline for tech gadgets. You can find it at www.greentoe.com.

You sign up, find a product you want, such as a camera or TV, and make an offer.

Greentoe shops your offer to dozens of retailers to see if any are willing to sell you the item at a lower price.

Just like with Priceline, however, your offer must be reasonable. Example: Greentoe cites one customer who got a $263 Fuji camera for $213. Notice that it wasn't half price, but was a decent discount.

Not a Penny Auction Site

This is not one of those websites claiming to offer new iPads for $39,or other ridiculous markdowns no one really gets.

You wont find those at Greentoe.

Fast Company magazine says it was started by a New York based web entrepreneur who asked why the Priceline model couldn't work for big ticket electronics. We'll soon find out.

As always, don't waste your money.

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