It's the first car auction of its kind on website grabone.co.nz and to make it special the vehicle up for bids is a star from TV3's The Block NZ.
From today, the website will have Alex and Corban's Honda Jazz RS Sport CVT for sale in a reverse auction. Each day the price will be wound back by different amounts until the first person to hit buy gets the car. The auction will run until December 10, or until sold.
"The reverse auction is a new format for us and an engaging one for our customers," GrabOne's general manager Ryan Watkins said.
"Whoever buys this car is sure to get extraordinary value even if they are the first to yield."
The Block NZ show saw four couples renovate homes in Auckland's Pt Chevalier. Alex and Corban's home sold for $1.552 million, giving them a $227,000 profit and making them the winners.
The Jazz RS Sport they used during the 10-week series is powered by a 1.5-litre petrol engine and is paired with a six-speed automatic transmission.