We've all seen and heard those commercials on TV and radio spouting forth the glory and amazement that are name your own price plane tickets, but do any of us really know how they work? How can these travel sites (such as Priceline and Hotwire) allow travelers to name their own price on a plane ticket without going bankrupt? It just doesn't seem possible, or at least legit.

Name Your Own Price Plane Tickets - Legit, with Exceptions

The act of naming your own price for plane tickets is simply another form of bidding on airfare. Instead of the airlines setting the price, you do (the prospective purchaser). Travel sites that offer name your own price plane tickets partner with travel consolidators and the airlines to get deep discounts on travel tickets across the globe. They then put these discounted tickets up for auction, allowing the consumer to bid on the plane ticket and set his/her own price.

Of course, this form of ticket purchasing isn't as clear-cut as it may seem. Even though you can name your own price, it doesn't mean you actually get the ticket at that price. Since "naming" actually means "bidding", someone else can "name" a different price (a.k.a. bid a higher amount) and get the plane ticket out from under you. Remember, "Name your own price for plane tickets" is just a fancy way of saying "Bid on airfare".

Name Your Own Price Plane Tickets - Bidding with a Blind Fold On

The big catch with naming your own price on plane tickets is that in many cases you're bidding without knowing the exact airline or flight times. You know the day of the flight before you bid, but you won't know what airline you'll be flying or the flight times until AFTER you've won the auction. And once you've won the auction (by naming your own price on your ticket), you're locked in - you can't back out if you don't like your departure time (i.e. 3 a.m.). So basically, when you're naming your own price on a plane ticket, you're taking a gamble on when you're leaving, how many layovers you'll have (many "name your own price" travel sites only offer flights that have multiple layovers), and what airline you'll be flying.

The Key to Name Your Own Price Plane Tickets- Be Flexible

The key to saving money and your sanity with name your own price plane tickets is to be as flexible as possible. You can find great deals on flights with "name your own price" travel auction sites. You just have to be willing and ready to depart and arrive at weird hours and endure a few layovers. If you're a flexible traveler and don't care what airline you fly, bidding on airfare and naming your own price on plane tickets is your best bet for saving on your flight.