I came across this great interview with Kaushik Mukherjee and Arun Balakrishnan, the cofounders of Indian startup LootStreet.

LootStreet.com provides a platform where online shoppers can haggle the price of a listed product with the seller. During the haggling, the potential buyer can only increase his bids, while the seller can only lower his offer. If both buyer and seller reach an agreement, then then the sale happens at that price. That's a great concept.

To learn more, read the FAQs and How to Bargain sections of the LootStreet website.

From my reading of the interview, it seems like the co-founders have more plans in the pipeline for LootStreet. I think this startup has got a lot of potential. Best of luck to them!

It's a shame they don't currently own the .IN domain for LootStreet.