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Bidding is the usual way in which a product is sold in the presence of multiple buyers in an standard auction . The person making the highest bid, usually wins.

A unique bid auction is new and different from this. In a unique bid auction - sometimes called a reverse auction - you are bidding is to make a unique offer. And in this case, the bidder quoting the lowest UNIQUE price for a bid becomes the winner.

It is best illustrated with an example: an HD TV is quoted at a price of $3000. Now, two people make a bid of $2.60, three people bid $1.51 and only one person makes the bid for $1.66. In this case, the winner will be the person who has made the bid of $1.66. Even if there are people bidding a lower price than this, the bidder of $1.66 is the only (and the lowest )unique 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

Given that the idea of a lowest unique bid action is fairly new the strategies involved in winning such an auction are also new and different. Here are some quick tips for you

1. Firstly you need to Sign up! Normally this is free - remember to read the FAQs just to be sure. Once you are a member, you may need to add a minimum amount to your new auction account to pay for your bids.

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 to outrun other bidders. 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.

These are the five main tips that if followed will help you emerge as the winning bidder at a lowest bid auction.

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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