just wondering but what is a group buy. the name gives it away but i want to besure on what it is.

 

Basically it's when a forum member takes it upon himself to negotiate a lower price for a certain item, in return for the promise of at least a minimum specified number of sales.

For example, maybe we want a group buy on part X for our cars. Part X retails for $50. Someone arranges with the vendor for part X to be sold at $40 each instead of $50, if we can get a guaranteed 15 people to buy. Usually there is a time window (say, two weeks) during which the part is discounted. Each person interested would call the vendor and place an order, providing credit card information. When the specified minimum number of people have done this, the vendor charges each person the lower amount and ships the parts out. That's it, in a nutshell.