Ads
related to: lowest unique bid auction software llc reviews california adventure
Search results
Results From The WOW.Com Content Network
In a lowest unique bid auction, the bidder who submitted the single bid of $0.06 would win the auction, and would be eligible to purchase the product or service for $0.06, because their bid was the lowest unique bid. In a highest unique bid auction, the bidder who submitted a bid of $0.09 would win the auction.
However, this is an auction with a difference, as only one person can win. For example, if two bids are placed, at 1:00 PM and 2:00 PM, 1:00 PM is the currently the lowest unique bid, however if someone else comes in with a bid of 1:00 PM, 1:00 PM is no longer a valid bid, and therefore 2:00 PM is now the lowest unique bid.
The winner selection in most auctions selects the best bid. Unique bid auctions offer a special winner selection: [78] the winner is the bidder with the lowest unique bid. The Chinese auction selects a winner partially based on randomness. [68] The final price for the selected winner is not always conducted according to their final bid.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, f How You Can Score Random ...
However, online auction sites, unlike live auctions, usually have an automatic bidding system which allows a bidder to enter their maximum acceptable bid. This is a hidden or proxy bid, known to the system, but not any other bidders; during the auction the actual bid is incremented only enough to beat the existing highest bid. For example, if ...
Unique bidding: In this case, bidders place bids that are global unique bids which means that for the bid to be eligible, no other person can place the bid in this amount and the biddings are usually secret. There are two variants of this type of bidding : highest unique bidding and lowest unique bidding. Dynamic bidding: This is a type of ...
Auction software is application software, that can either be deployed on a desktop, on a web server [1] [2] or as a smart contract [3] on a blockchain virtual machine. This software is used by auctioneers and participants of online auctions such as eBay. Smart contracts replace an auctioneer's server, if the auctioneer is not trusted. [4]
For business auctions, the term refers to a specific type of auction process (also called e-auction, sourcing event, e-sourcing or eRA, eRFP, e-RFO, e-procurement, B2B Auction). Open procurement processes, which are a form of reverse auction, have been commonly used in government procurement and in the private sector in many countries for many ...
Ad
related to: lowest unique bid auction software llc reviews california adventure