Auctions and strategies seem to go hand in hand as the Internet auction industry continues to get more creative with auction software technology. In this article we will see the “Unique offer” auction from DubLi and tries to shed some light on how to participate with basic information that can be used to help you determine your own strategy.

Before entering the “Unique offer” auction. Let’s first take a quick look at what type of auction it is. The single bid auction is considered a reverse auction. Reverse auctions are similar to a traditional auction in that you have a seller and multiple buyers competing against each other to win a particular item. However, in a reverse auction, competition among buyers is driving the price of a product down, which is the complete opposite of what you’ll find in a traditional auction.

That being said, a single-bid auction will have a seller listing a product for auction, and buyers competing against each other by bidding on both the lowest and most exclusive price to be awarded the auction winner. Also, this particular auction is always set on a time frame.

To participate in a Single Bid Auction, participants must purchase Credits and use the Credits to choose the price they are willing to pay for a particular item. One credit represents one offer, and offers are placed in increments of two thousand five hundred. With that said, let’s move on to the strategy to help us compete in a single bid auction.

What information should you find out before you start bidding to help you with your strategy?

• Know the starting price of the item you are interested in, as well as the item’s description.
• Look at the completed auction to investigate and see if the item has been up for auction before. Be sure to check the item description so that it is the same item.
• Also take note of how long the item was up for auction in the past. Make sure the time frame is the same before taking it into account for your strategy.
• Find out what time the new auction starts and ends.

Once you’ve gathered some basic information about a product of interest, the next step is to find out how much you’re willing to pay for the item if it wins the auction. Remember to take into account your cost of credits that you will need to bid.

If the auction has just started, in my opinion, it is the best time to place your bids. Typically, I would look for items that have just started going up for auction.

Next, you’ll want to figure out where to place your bids, which means your bids are placed in 2500 increments; So what range of price points do you want to cover that are the lowest and most unique? If you start making a series of offers and are told that your offers are not the lowest or the most unique. Then you will have to go higher or lower on your bidding range.

Once you’ve successfully placed your bids, you’ll want to follow the auction closely to ensure no other buyers have duplicated your placed bids. If you discover that your bids have been covered by another buyer, then you will have to make a decision as to whether or not you want to place another spread.

At this point, it’s a game of luck, but the rewards can be very lucrative once you learn how to play. The idea is to cover a large enough spread on the quarter increment bids that it scares off other buyers if they start bidding around the bids made because the system will alert the other buyers that they are not the lowest bidder or the most unique This will cause other buyers to bid elsewhere.