"Lowest Unique Bid" auction : the lowest and unique bid wins!
The lowest unique bid wins the auction
The Lowest unique bid auction gives you the opportunity to buy brand new products at very low price. The winner is the bidder who has placed the closest bid to 1 cent ($ 0.01) and that no one else has placed (unique bid).
In this example you can see that:
- Only 1 bid at $ 0.03 has been placed
- Only 1 bid at $ 0.04 has been placed
- Several bids have been placed at $ 0.01, $ 0.02 and $ 0.05
Currently, the lowest unique bid is $0.03
If another person places a bid at $ 0.03 before the end of the auction, $0.04 will become the lowest unique bid.
We have defined 2 types of auction rules, they have a direct impact on your auction strategy:
Common information to LIMIT and NO-LIMIT auctions:
Other things to know:
If there is no "Lowest Unique Bid" at the end of the auction, then nobody wins, and the auction re-start.
If there are one or more Unique Bids, the winner who has placed the lowest bid is informed by email. He is then entitled to order and pay the product (prices are VAT included, excluding shipping and handling fee). The product will be shipped directly to the address that the winner has specified in his online account.
Credits required for each bid
In order to be able to participate to an auction, you need to register as a member and to have credits available in your account. Credits can be purchased or free.
Should you have any questions, please read our F.A.Q. section or read the Rules in the Terms and Conditions of Use.
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