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.
Reverse bidding in a unique bid auction is different from this traditional form of online auction. Here the idea behind a unique bid. And so in this case, the bidder quoting the lowest price for a bid that no-one else has also 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
Reverse bidding is an unusual concept but it is interesting and profitable too as it enables bidders and auction visitors to get items at a considerably lower price. Reverse bidding auctions have gained much popularity amongst the more usual Internet auction sites. Many Australian online auctioneers are now choosing to make the lowest unique bid the winner for their products..
In this line, Youbid.com.au has emerged as an eminent name in the world of Australian online auction sites. Providing a variety of categories to choose from, Youbid can be joined exclusively by Australian and New Zealand nationals.
Joining youbid.com.au is free of charge. 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. First thing to do obviously is Sign up. For most auctions you will need to become a member. Remember to read the FAQs. Once you are a member, you may need to add a minimum amount to your new online 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. Bid early. Unlike a traditional online auction there is no advantage in waiting until the last few seconds to bid. As soon as you have decided on the item, bid on it. In fact in a unique bid 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 a track of the status of your bids - Like any good Australian online auction site, Youbid.com.au , 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 main tips for getting the winning bid at a lowest bid auction.
Youbid is a new reverse auction site in Australia. It's free to join. And remember in a unique bid auction its the lowest unique bid that wins. You could save hundreds of dollars.
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