Gilt-ii Turns Flash Sales Site Gilt Into An Auction Marketplace

At the TechCrunch Disrupt Hackathon today, local hackers Bill Magnuson and Jon Hyman presented an e-commerce plugin for flash sales site Gilt.com that is worth a look. Called Gilt-ii, the bookmarklet allows Gilt members to auction their items in their shopping cart during the actual buying process. So here's the basic premise behind Gilt-ii. Everyday at noon ET, Gilt releases daily price cuts on luxury goods. There are limited quantities of these goods, and most of these items become unavailable within in minutes fo the sale opening. That's why many shoppers on the site put things in their cart, where they have ten minutes to decide if they want to purchase the item, even if they aren't necessarily sold on the idea of buying the item.

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