TODAY

TODAY   |  May 17, 2013

Budget brides save by buying canceled weddings

A new company, BridalBrokerage.com, is helping both brides on a budget and those who call off their big days by selling canceled wedding packages to couples looking to save a little time and money. NBC’s Mara Schiavocampo reports.

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>>> getting married, an exciting time for couples but what happens when you're in the middle of planning your wedding and the relationship doesn't last? nbc's mara schiavocampo is here to tell us what happens. ma mara , good morning again.

>> good morning, matt. broken engagements can be tough especially if you've already put down thousands of dollars, but now a new company wants to help. wedding can be the experience of a lifetime, but sometimes -- relationships don't work out.

>> i'm done!

>> reporter: and that trip down the aisle gets canceled. couples can lose thousands of dollars in deposits on reception halls, flowers, photographers and more. now a new company called bridalbrokerage.com wants to help some couples get their money back, the online business is selling canceled weddings.

>> if you're a bride you can logon and be able to see if there is open wedding dates that have been called off or if there are vendors in your area that have opening that they would like to sell off at a discount.

>> reporter: a california couple says bridal brokerage helped them save big money on their big day . angela wakefield and her fiance chris watkins logged on and bought someone else's canceled wedding reception .

>> it was a no brainer to just get a prepaid package and it was kind of all planned out so easier and cost effective.

>> reporter: the package purchased by the previous couple was valued at more than $12,000. when the wedding was canceled, angela and chris bought it for $7,900, a savings of more than $4,000. the new couple save money, the broken couple get some money back, bridal brokerage gets a fee.

>> the bride gets a portion of the money she paid an for the new bride an amazing deal.

>> i think it was easy, took a headache away from me, since we're saving so much money i can splurge on some other things.

>> most couples who buy canceled weddings are still able to choose their own food, colors, flowers and cake depending on how close it is to the wedding date. in some cases the new couple pays additional fees for upgrades or changes to the previously purchased package but you're at least not stuck with lime green .

>> how do you feel about this being a win/win.

>> except for the couple that's heartbroken their wedding was canceled but financially it makes sense.

>> that couple that called off the wedding at least they get a little bit back on their investment. mara thanks