Reverse Auction To Give Luxury Home To 'Lowest' Bidder

GOLDEN, Colo. (CBS4)- A reverse auction puts a luxury home in the hands of the lowest bidder instead of the highest bidder.

Here's how it works, the six bedroom, nine bathroom home in Golden is on the market for just under $4 million.

Every three days the price will drop $150,000 until it sells but there is a catch.

"The seller of this home can accept a bid at any time, he can reject a bid at any time and he can stop the auction at any time," said Colorado Dream House spokesman Dan Polimino.

The 14-year-old home is located just south of Genesee Mountain and features a five car garage, a 360-bottle wine cellar and a two-level guest home.