 The Host & Auctioneer Bill Cullen & The Announcer Don Pardo (later Johnny Gilbert). On NBC-TV, 4 Bidders (1 champion & 3 challengers) will bid the item one at a time (back and forth) until it freezes the bid by one of these bidders. The Host will read the actual retail price of the item without going over will win the prize. 4 items are presented throughout the show. When the winner of the item was less than $10 in November 1956 to January 1957 and increased to $20 and then $25 from January 1957 to September 1960, $50 from 1960 to 1963 and finally $100 from 1963 to 1965 will also win a bonus prize or play a bonus game for a bonus prize that attached for the bid that s a little bit closer to the actual price or exactly right. The Bidder with the highest value of cash and prizes wins the game and become the champion and faced 3 new challengers. Addition to the show, There s "THE PRICE IS RIGHT SHOWCASE", The quarter-annual contest that aimed to viewers to bid on the big showcase of prizes to win when the actual total retail price of the same showcase is exact right. In the last 2 seasons, The Show moved to ABC-TV and The Contestant Format had changed. Now 1 Champion, 2 Challengers & the guest star bidder who play for an audience member or home viewer to win a item. Bidders must compete before defeated.