It’s called a “reverse auction.” And this one features not just tickets to the Eagles at the AAC, but dinner at 9INE, VIP access to Ghost Bar, and a stay at the W.
Here’s how it works: you pay $1 to bid. The lowest unduplicated bid wins. If you bid 1 cent, and someone else also bids 1 cent, you lose. Rather than make money from one large winning bid, the auctioneers make money on the volume of bids.
The auction ends tonight at midnight.