"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 pence (£ 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.
"Express" auction : buy when you like the price
Buy at the price you are willing to pay
The starting price is equal to the market value of the product. The price descrease by £ 0.30 each time you click on "Show price", you then have the opportunity to buy the product at the displayed price.
A new and simple way to buy brand new products at very attractive prices !
You can buy credits, right after your registration.
When you place a bid, you can see the followings:
1. The current price has decreased by £ 0.30
2. The current price is displayed
3. You have the opportunity to buy the product immediately
Don't hesitate too much, someone else might buy the product before you.
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.