Lowest Unique Bid Auction

  • In a lowest unique bid auction, the bid that is the lowest and unmatched when the auction closes is the winning bid.
     
  • To win an auction, your bid must be global unique. Bidders are generally able to place multiple bids and the number of current bids at each amount is typically kept secret.
     

How To Win

  • In a lowest unique bid auction, the bid that is the lowest and unmatched when the auction closes is the winning bid.
     
  • To win an auction, your bid must be global unique. Bidders are generally able to place multiple bids and the number of current bids at each amount is typically kept secret
     

How Example

    Value    

 Number of bids 

Comment

$1.01

21

Not Unique 

$1.02

6

Not Unique 

$1.03

2

Not Unique 

$1.04

18

Not Unique 

$1.05

5

Not Unique 

$1.06

1

  Lowest Unique Bid   

$1.07

1

Unique, Too High 

$1.08

7

Not Unique 

$1.09

1

Unique, Too High 

$1.10

2

Not Unique 

 

In a lowest unique bid auction, as show from above example, the bidder who submitted the single bid of $1.06 would win the auction, and would be eligible to purchase the product or service for $1.06, because their bid was the lowest unique bid.


In this type of auction the bids of other participants are kept a secret untill the auction has closed, although we will provide broad guidance following a bid, such as whether the winning unique bid is higher or lower than one's last bid. 
 

Keep an eye on the auction, even if the system shows you have the lowest unique bid, others still bidding may find a new low unique price.

RECENT WINNERS

5,500 Verge (XVG)
0.12 Ethereum (ETH)
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