I need a magento extension to do the following -
A reverse auction for listed items.
The Item will have a "start price" visible to everyone.
It will also have a "current price" visible to users who places a bid.
So lets say the Item starts at $1000.
the price per bid is $5(this is a value i want to be able to change).
Once a bid is placed the Items price drops by lets say $2.50(this is a value i want to be able to change).
Once the user posts a bid and only then can he view the "current price" of the item.
So now the "current Price" is at $997.50.
he then gets an offer to purchase at the "current price" and that price is only valid until someone else places a new bid.
so the script needs to check when a new bid is posted that the offer to the first client must expire and the client would have to bid again to see the new "current price" and have the option to purchase.