Bring a Trailer

Ruumr: Bring a Trailer for houses, an eBay-style home auction

Sam invested in Ruumr, a real-estate auction site with live bidding and a comment thread (like Bring a Trailer for cars). It solves the sealed-bid problem where a winner overpays or a loser would have gladly bid more, by making bids transparent and live.

“If you're bidding half a million dollars for a house and you see that the winning bid was $505,000, you're like, well, fuck, if you guys would have told me, I would have bet $510,000 and you would have made more money and I would have got what I wanted.”

Steal thisReplace sealed-bid processes with live, transparent auctions to capture the extra value bidders would pay.