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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