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It's a pig in a poke. For hotels, you can select an area within a city (if it's a large city) and the 'class' of hotel, e.g. a three-star hotel near the airport. It will list a list price range and then you can choose the price you want to pay. If one of the places has said it will accept the price you are offering your credit card is then charged. Only after paying for it do you find out where you are actually staying. No changes are allowed, no cancellation, so be damned sure you're going to go. You can get some good deals but it all depends on how many rooms hotels can't sell via normal channels.
I think you get one more chance if your price is too low ... you can't just increase it a dollar at a time until you find a taker.
