How does priceline.com really work?

what is the catch? I get tix that normally cost $1200 but bid 850? Please explain! I do not want to read pages and pages of disclaimers!
If you put in a price of $850, you may not get what you are looking for. For instance, if you put in a 3 star hotel that would normally cost $1200, but you only want to pay $850. You put that price in, along with your dates, the information for what you are looking for and a credit card. If it finds something in your price range, you will be booked. You cannot cancel, you cannot change, that is what you get, if you aren't happy, you either keep it or you have to book another hotel, but this one cannot be cancelled.

The big thing to keep in mind, you never know what will be booked for you. Another words, you have no idea of the hotel, area, etc. A lot of people put in information regarding where they want the hotel located, how many stars, etc. After they put their price in and credit card, it comes back with a result that was booked, but it isn't even close to what they were looking for. Since you have no proof of what you put in, there is really nothing you can do.

So, this is just something you want to consider. Just because you are looking at something that costs $1200 and put in a price of $850, it doesn't actually mean you will get what you were looking at. So, if you are really set on one hotel, or a certain area, I would recommend booking directly with the hotel or with a travel agent.

If you are looking at air, there are the same type problems. You put in times, airline, airports, etc. But you may not actaully get what you put in.

So just be aware of this before trying it, because if something comes up in your price range, it is booked.