Today we’re launching an experiment called a Tiered Rewards Auction. The way this works is the auction item changes as the high bid amount moves into different tiers. For example on our first auction the item in tier 1 is a $10 iTunes gift card. If the bid for this goes higher than 499 then the tier moves up to 2 and the auction item changes to something else (which remains unknown until the bid amount gets this high).
We thought it’d be a little more fun than your standard rewards auction. Have fun!