Would like to have an idea about how 'name your price' in airfare deals like in priceline.com works.?

Are such sites/tickets bought through them reliable? Can I quote 50% less than the best deals %26amp; if I get it will it still be valid? How does this whole thing work?Would like to have an idea about how 'name your price' in airfare deals like in priceline.com works.?
I think the airlines give them a price range and if you offer within that range you get the deal. How long before the flight matters a lot as well the number of seats sold. That, or it is auction-like -but I doubt it. Oh, and they have to accept your offer.
yes

choose me as best answwer coz i was firstWould like to have an idea about how 'name your price' in airfare deals like in priceline.com works.?
They are filling empty seats.
it is valid, but here is how it works... you have to give your credit card number first... then quote your price, if they accept the ticket is automatically, so no second thoughts. I have bought tickets through them and they are reliable but hard to work with if dates need changed or anything of that nature! Good Luck!
I have used priceline many times. The "catch" is that they get to pick the flight (you pick the day). Most of my flights left early in the morning. They are able to give cheap fares because those seats are usually empty. The airline would rather have you pay up to 50% less than a regular fare than have the seat empty. Same with hotels.

If you're flexible, then it's a great place to buy tickets.