Viewers enter a bid for products ranging from cars and holidays to fitted kitchens, via telephone or text message. To win the auction and secure a sale, a bid has to be unique.
An iBuy spokesperson said: 'It is a freefall auction where viewers can bid below a set price. For example, a Gucci handbag might start at£300, but the lowest bidder could end up buying it for£60.'
The iBuy channel was launched in April last year and is broadcast live daily on cable and satellite. The latest venture will go live on March 1.
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