| Just as the name implies, the unique bid is won by | | | | their bid is neither unique nor the lowest unique bid they |
| placing a unique bid. What makes it even more | | | | can place another bid immediately, but each bid will |
| interesting is that in order to place the winning bid, you | | | | cost them 80 ¢. If someone is willing to burn |
| must place the lowest unique bid. Now this is | | | | enough credits they can figure out about where the |
| completely contrary to what you might be | | | | range of the winning bid should be. |
| accustomed to in most common auctions such as one | | | | Bidders may place as many bids as they like in any |
| at eBay or at an established auction house such as | | | | 25¢ increment. For example, if the item up for bid |
| Sothebys in New York City. | | | | is a $200 American Express Gift Card, a bidder may |
| As individuals continue to bid on an item, the bids keep | | | | place a bid in any 25¢ increment from 25¢ all |
| getting higher and higher until no one is willing to bid | | | | the way to $200 even. Of course, no one in their right |
| higher than the last bid, and the person placing the last | | | | mind is going to place a bid for $200. What would be |
| bid gets to buy the item at that highest bid. Here, in | | | | the point? The idea is to get the item at a nice savings. |
| order for a bidder to win they must place the lowest | | | | Below is a great example of the savings that are |
| unique bid; meaning no one else can place a bid for the | | | | possible in the Dubli Unique Bid Auction. I have included |
| same amount, and it must be the lowest UNIQUE bid | | | | an image of the iMac as well as an image of the |
| placed. Further more, in order for an individual to place | | | | winning bid right below it. When the auction is over the |
| a bid they must have an 80¢ dubli credit. As a | | | | computer starts checking the bids at 25¢. If there |
| matter of fact, in order to participate in any of the 3 | | | | is more than one bidder at 25¢, it will jump up to |
| DubLi Reverse auctions you must have a bank of | | | | 50¢ and if there is more than one bidder at |
| credits. | | | | 50¢ it will move up to 75¢ ; and it continues |
| As bids are placed on an item, it is not revealed how | | | | to move up in every 25¢ increment until it gets to |
| many bidders there are on any given 25¢ | | | | the lowest unique bidder and that becomes the winning |
| increment, but the bidder is notified instantly whether or | | | | bid. "Pretty Cool! |
| not their bid is unique and if it is the lowest unique bid. If | | | | |