Types Of Bidding In Online Auctions
Online auction sites offer people the opportunity to choose how much they are willing
to pay for a product rather than have the price dictated by a retailer. Auction enthusiasts enjoy the thrills of competitive bidding and the combination of luck and strategy required to bag a bargain. These days auction sites are drawing in more and more thrifty consumers by offering innovative ways to bid on desirable items.Well known sites such as Ebay operate ascending price auctions along the same model used by art and antique dealers. An item is put up for auction and people openly bid for it. Each offer must be higher than the previous one. The highest bidder at the close of the auction purchases the item for the price of their final offer.
A reverse auction is so called because it turns the ascending price auction upside down. The lowest price offered wins rather the highest. Reverse auctions commonly operate online in the form of freelancer or bid-for-work sites.
In the Dubli Xpress reverse auction the price of an item continues to drop until someone buys it. Visitors to the site purchase credits to bid with. Items listed for auction have a stated starting price, but the current price is only divulged to a potential buyer after they have placed a credit on the item. Each time a credit is bid, the cost of the item is reduced and the bidder has the option to purchase the item at the revealed price.
Unique bid auctions are a relatively recent internet phenomenon. Bids are made privately and no one knows how many other people have bid any particular amount. In order to win, a bid must be unique. If two or more people bid the same amount, their bids are automatically disqualified. Depending on the rules, either the lowest unique bid or the highest unique bid wins the auction.
The Dubli Unique Bid auction offers plenty of excitement for bidders. Products ranging from electronics to family vacations are detailed on the site with their retail value stated. Perspective buyers can make a single bid on an item or cover a range of bids. When the auction closes, the item is awarded to whoever made the lowest unique bid. Luxury goods can be had at amazingly low prices if no one else bid for exactly the same amount.
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