Let’s face it, there are times when circulating the mall’s car park looking for an empty spot can turn into a long and drawn out affair, lasting for a good 20-30 minutes, at which point you just want to call it a day and head home. According to a recent study, motorists in New York’s Upper West Side spend 366,000 miles a year (collectively) just looking for parking space! Imagine all that time and fuel wasted that could have been put to much better use.

Thanks to a web app called ParkingAuction, you can now sell your parking lots to the highest bidder. Basically if you’re just about done with your groceries or your coffee at the cafe, and you know that the area is notoriously difficult to find a parking, you can now set up an auction for your parking spot, describing the location and your car to potential bidders.

Naturally the highest bidder will win the spot but the money that you’ve won cannot actually be cashed out. Apparently the money will be converted into credits that you can then use for future parking spot bids. As it stands this seems to work only in New York City, which is rather unfortunate, and is a web app that can be accessed via the computer or through a mobile phone.

Filed in Cellphones >Transportation >Web. Read more about and .

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