Lowest Unique Bid auctions
- Thread starter swampthing
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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.
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 :angry:
i wonder how long will this concept lasts.
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.
The Service charge is according to the amount of the item one.
Hah either way the company wins right, because they win from each bid. They don't care what the final bid is.
ah but the ploy is that you get to 'win' the item for much lower than the original price...
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
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
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
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
Tried my luck on a spa package and the Wii. The Merz is a bit too much for my blood. ($38 to bid).
V
vince123123
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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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