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Thread: Lowest Unique Bid auctions

  1. #1

    Exclamation Lowest Unique Bid auctions

    Hmm.. anyone tried?

    http://www.tatarah.com.sg

    Kinda like... gambling...

  2. #2
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    Default Re: Lowest Unique Bid auctions

    only the lowest unique bid will get it. if everyone bid for $1 and you are the only one who bid for $2, then you'll get it. in other words, it doesn't mean low bid will win. in the end, if a person really wants something, he'll try to outbid everyone. so, it's just like normal bidding.

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    Default Re: Lowest Unique Bid auctions

    Are you sure they are audited to ensure they really honour a Unique lowest?
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    Default Re: Lowest Unique Bid auctions

    Quote Originally Posted by Andy Ang View Post
    Are you sure they are audited to ensure they really honour a Unique lowest?
    not sure lah... but i think they have to lor. the bids must be transparent to public mah.

    the other thing is... there will be a charge of $5 (excl GST) for every bid submitted. so if you bid twice... you pay $10 (excl GST). what more... for every invalid bid submitted, a fee of $1 (excl GST) will be levied. damn bloodsuckers

    i wonder how long will this concept lasts.

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    Default Re: Lowest Unique Bid auctions

    Not Blood suckers lah, you like buy lottery also what. Think of it that way lah.

    The Service charge is according to the amount of the item one.
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    Default Re: Lowest Unique Bid auctions

    Must play early. The lesser the number of people playing, the easier to win..
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  7. #7

    Default Re: Lowest Unique Bid auctions

    Given bidding information, very easy to get "Friends and Families" to place a unique bid for all the items that you don't want to let go.

    If it was me, I'd probably do that until momentum is gained.

  8. #8

    Default Re: Lowest Unique Bid auctions

    Quote Originally Posted by waipeng View Post
    Given bidding information, very easy to get "Friends and Families" to place a unique bid for all the items that you don't want to let go.

    If it was me, I'd probably do that until momentum is gained.
    Hah either way the company wins right, because they win from each bid. They don't care what the final bid is.

  9. #9

    Default Re: Lowest Unique Bid auctions

    anyone noticed that you have to pay to bid? even if you don't win anything you'll pay too.

    hmm... sounds like a ploy... better stick to the usual auction sites i'm used too... else just go to the shop and buy...

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    Default Re: Lowest Unique Bid auctions

    Quote Originally Posted by viewwing View Post
    anyone noticed that you have to pay to bid? even if you don't win anything you'll pay too.

    hmm... sounds like a ploy... better stick to the usual auction sites i'm used too... else just go to the shop and buy...
    that's what i said... bloodsuckers!

  11. #11

    Wink Re: Lowest Unique Bid auctions

    Quote Originally Posted by mohgui View Post
    that's what i said... bloodsuckers!
    ah but the ploy is that you get to 'win' the item for much lower than the original price...

  12. #12
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    Default Re: Lowest Unique Bid auctions

    No point lah... service charge alone, they will make a BIG killing liao.

    Think about it, 100 bidders and each have to pay $1.07 on admin fees alone... that's $107 for them liao. Dun even need to care if the fella who won the bid at $1 or not...
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  13. #13

    Default Re: Lowest Unique Bid auctions

    interesting..

    somewhat like the concept of this shop mentioned in the novel that my school's making us read for economics - the fatal equilibrium
    basically in that shop prices start very high, but there is a timer on every "price tag" which goes downwards
    so yes, you can try to get your lowest price but there is the risk that people will come by and kope it (once you buy it the price you pay is the price stated on the countdown timer) and you will not get it.

    but this one seems much more greedy.. got what service charge.. sick

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    Default Re: Lowest Unique Bid auctions

    anyone win anything?

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    Default Re: Lowest Unique Bid auctions

    It just started today lah
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    Default Re: Lowest Unique Bid auctions

    that's how reverse auctions work. it's a well-known auction mechanism.

    would you pay $5 to bid $15 for a PDA phone? if you get it, its $20 only. otherwise, it's $5 out of pocket. a little like buying lottery.

    just like toto. 1 million people spend 5 or 6 million (probly even more) to try and win 2.2 million
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  17. #17

    Default Re: Lowest Unique Bid auctions

    Tried my luck on a spa package and the Wii. The Merz is a bit too much for my blood. ($38 to bid).

  18. #18
    vince123123
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    Default Re: Lowest Unique Bid auctions

    Who knows if the bidding is really true and accurate and not rigged?

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    Default Re: Lowest Unique Bid auctions

    Quote Originally Posted by mohgui View Post
    not sure lah... but i think they have to lor. the bids must be transparent to public mah.

    the other thing is... there will be a charge of $5 (excl GST) for every bid submitted. so if you bid twice... you pay $10 (excl GST). what more... for every invalid bid submitted, a fee of $1 (excl GST) will be levied. damn bloodsuckers

    i wonder how long will this concept lasts.
    this sound more like gamble to me.
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  20. #20
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    Default Re: Lowest Unique Bid auctions

    Quote Originally Posted by swampthing View Post
    ah but the ploy is that you get to 'win' the item for much lower than the original price...
    that is if you win lah... i think it's kinda hard to win. i'm sure there are some suay-khuan people out there.

    it's like this, if i can't get the item for the low price, i make sure you don't get it too. i'll bid at whatever low price you bid (hence making your bid not unique anymore). you lose your $5.

    if you bid another time, it's another $5 and the whole cycle starts over.

    i just hope all bidders out there will play fair.

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