Bidding is a term that is exclusively linked with auction. It is a process through which a product is sold in the presence of multiple buyers. In case of a normal auction, the buyers bid for a particular product and the person making the highest bid, generally wins.
The concept of reverse bidding in a unique bid auction is new and different from the traditional form of online auction. The main idea behind reverse bidding is to make it unique. In this case, the bidder quoting the lowest price for a bid becomes the winner.
For example, a mobile phone is quoted at a price of $600. At auction end two people have made a bid of $1.60, three people bid $1.50 and only one person made the bid of $1.55. Here, the winner will be the person who has made the bid of $1.55. This is because $1.55 is the lowest, unique one - no one else has made an equal bid to this one
Though a Unique Bid Auction might seem like an unusual concept but it enables bidders to get items at a considerably lower than RRP prices. Unique Bid Auctions have gained much popularity in teh US and Europe and now many Australian online auctioneers are also choosing to make the lowest unique bid the winner for their products..
For example, Youbid.com.au in Australia is one of the newest and best lowest unique bid online auction sites. It provides a variety of categories to choose from, and can only be joined by Australian and New Zealand residents.
Joining is absolutely free of charge. To become a member, you just require to fill up a registration form. You must 18 years and above in age to bid on this unique bid site
Now since the idea of a lowest unique bid action new to many people here are some quick tips that can be followed to help you win..
1.Sign up for taking part in an online auction - Become a member and read the FAQs to get a clear idea about the bidding process. I most cases, you can sign up for free at one of the many Internet auction sites, such as Youbid.com.au. Once you are a member, start by making a few bids in the beginning. Practice is the only way to be a perfectionist in the bidding game.
2.Browse through the products and choose your desired category - remember you're not bidding against others on the retail value of the product. It might be worth many thousands of dollars and be sold for only a few. You just want to get the lowest bid that no-one does ( ie a lowest unique bid)
3.Do not wait till the end to make a bid - Unlike a traditional online auction there is no advantage in waiting until the last few seconds. As soon as you have decided on the item, start making the bid. In fact in the case of reverse auction, it is important that a unique bid gets registered as soon as possible. This is because sometimes there isn't one single unique bid. In this case the winner is the first person who made the lowest bid of the two lowest bids. So get in early or you might lose a winning opportunity.
4.Make multiple bids if you can. This is one of the essential strategies in the lowest bid auction.
5.Keep an eye on your bids. Most sites will keep its bidders updated through email about the status of their bids. Being the bidder, you should strictly keep a track of the bid status so that the lowest unique bid can belong to you.
As such, these are the various tips that can be followed to emerge as the winning bidder at a lowest bid auction.
The concept of reverse bidding in a unique bid auction is new and different from the traditional form of online auction. The main idea behind reverse bidding is to make it unique. In this case, the bidder quoting the lowest price for a bid becomes the winner.
For example, a mobile phone is quoted at a price of $600. At auction end two people have made a bid of $1.60, three people bid $1.50 and only one person made the bid of $1.55. Here, the winner will be the person who has made the bid of $1.55. This is because $1.55 is the lowest, unique one - no one else has made an equal bid to this one
Though a Unique Bid Auction might seem like an unusual concept but it enables bidders to get items at a considerably lower than RRP prices. Unique Bid Auctions have gained much popularity in teh US and Europe and now many Australian online auctioneers are also choosing to make the lowest unique bid the winner for their products..
For example, Youbid.com.au in Australia is one of the newest and best lowest unique bid online auction sites. It provides a variety of categories to choose from, and can only be joined by Australian and New Zealand residents.
Joining is absolutely free of charge. To become a member, you just require to fill up a registration form. You must 18 years and above in age to bid on this unique bid site
Now since the idea of a lowest unique bid action new to many people here are some quick tips that can be followed to help you win..
1.Sign up for taking part in an online auction - Become a member and read the FAQs to get a clear idea about the bidding process. I most cases, you can sign up for free at one of the many Internet auction sites, such as Youbid.com.au. Once you are a member, start by making a few bids in the beginning. Practice is the only way to be a perfectionist in the bidding game.
2.Browse through the products and choose your desired category - remember you're not bidding against others on the retail value of the product. It might be worth many thousands of dollars and be sold for only a few. You just want to get the lowest bid that no-one does ( ie a lowest unique bid)
3.Do not wait till the end to make a bid - Unlike a traditional online auction there is no advantage in waiting until the last few seconds. As soon as you have decided on the item, start making the bid. In fact in the case of reverse auction, it is important that a unique bid gets registered as soon as possible. This is because sometimes there isn't one single unique bid. In this case the winner is the first person who made the lowest bid of the two lowest bids. So get in early or you might lose a winning opportunity.
4.Make multiple bids if you can. This is one of the essential strategies in the lowest bid auction.
5.Keep an eye on your bids. Most sites will keep its bidders updated through email about the status of their bids. Being the bidder, you should strictly keep a track of the bid status so that the lowest unique bid can belong to you.
As such, these are the various tips that can be followed to emerge as the winning bidder at a lowest bid auction.
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For a unique bid auction in Australia visit our site. It's free to join . Remember its the lowest unique bid that wins.
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