5 Tips for Winning in a Unique Bid Auction

Bidding is a term associated with auctions. In an standard auction this is the process through which a product is sold in the presence of multiple buyers. Normally the buyers bid for a particular product and the person making the highest bid, generally 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..

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 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

However, since the idea of a lowest unique bid action is fairly new the strategies involved in successful bidding are also new and different. Here are some quick tips can be followed to become a professional bidder at this style of online auction

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.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 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.