Unique Bid" auction : the lowest and unique bid wins!
The lowest unique
bidwins the auction
Place the price that you want
If your bid is unique and is the lowest among unique bids, you win the auction!
If you place the 2nd, 3rd, 4th, 5th or 6th best unique
bid : you win bonus credits (up to 100 bonus credits for
the 2nd one).
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
We have defined 2 types of auction rules, they have a direct
impact on your auction strategy:
NO-LIMIT auction: You can place as many bids
as you wish on the auction: the displayed information allow
you to adjust your strategy and place a new bid if you wish.
LIMIT auction (ex: 50 Bids max.) : You can
place a limited quantity of bids on the auction. Your auction
strategy must be defined from the beginning of the auction in
order to identify quickly the lowest unique bid.
To balance this limit, the system displays 2 additional status
: Not unique bid "too high" / Not unique bid
Common information to LIMIT and NO-LIMIT auctions:
All bids are blind, it means that they remain secret untill
the end of the auction.
As soon as you place a bid, you can see if : 1) it is the
lowest unique bid, 2) it is a unique bid, but too high, or 3)
it is not a unique bid.
For "Not Unique" bids: you can see the number of
participants that placed the same bid, and you can see their
pseudo by clicking on "See details".
Other things to know:
All Unique Bid auction are limited by time.
You can place single bid, or multiple bids: in this case,
your bids will be automatically placed within the price range
that you set.
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.