How they do it: Amazon Web Services offers a flexible bidding option for computing power called ”spot instances”. Amazon EC2 Spot Instances offer spare compute capacity available in the AWS cloud at steep discounts compared to On-Demand instances. Spot Instances enable customers to optimize your costs on the AWS cloud and scale your application’s throughput up to 10X for the same budget.
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How they do it: Google uses an auction process with every search query. The outcome of the auction will be which and in the order ads will show on a a page. Next to factors of how suitable the ad is to the keyword search and the quality of the ad, the bid for this keyword, set by the marketer, will determine the positioning of the ad.
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How they do it: eBay pioneered the online auction paradigm. Sellers could list their products for a very low starting bid, which sparked attention from potential buyers. In 2006, Russian billionaire Roman Abramovich was the lucky buyer for a Yacht for around $170 million, put up for auction on eBay and resulting in one of the most expensive auctions of the platform.
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How they do it: Lufthansa offers several classes on their airplanes. To upsell customers to a higher class and monetize vacant spots in their business class, the company allows customers to bid for an upgrade a few days before the flight departs.
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