How do lowest unique bids work

Can I take part in more than one auction at a time? Can I purchase products that which showing for Auction from Bid4jeet. When does an auction end? How can I pay for a bid? Are my payments to Bid4jeet. How will I know if my bid was successfully submitted? How much does it cost to bid via my mobile? Will I get charged each time of my bid status updation?

How can I check the status of my bids in real time on the site? How will I know if I did not win? If I place the winning lowest unique bid, do I have to pay the winning bid amount? What is an auction entry fee? When do I have to pay an entry fee in your auction site? Can I exchange Bid Points for cash? Can I undo submitted Bids?

Can I get a refund for bids which I have purchased? How do I know if my payment was processed successfully? How much will shipping and packing fees to winner? Do you do international shipping?

If I decide I do not want the item, can I return it and get a refund of my Bid fees? What should I do if I receive a faulty product? Can Bid4jeet repair or replace defective items? Is my personal information confidential with Bid4jeet? What should I do if I forget my username or password?

Skip to content. Home About. A lowest unique bid auction operates under the following three main rules: Whoever bids the lowest unique positive amount wins. If there is no unique bid then no one wins. No participant can see bids placed by other participants. A natural question is: Are there any good strategies for participating in this auction? Of course there are a whole series of unfounded social assumptions behind this analogy, like the fact that the women at the bar would automatically settle for the first and only guy that approaches them etc… The situation described in the movie may possibly be viewed as a slightly twisted, more generalized version of the two player prisoner dilemma which is a classical problem in Game Theory.

Finding the symmetric mixed strategy Nash equilibrium: Suppose is a mixed strategy where represents the probability of bidding cents. In all we obtain the following rather nasty looking expression So to find the equilibrium strategy we should solve the infinite non-linear equation system: In the minimal non-trivial auction with yourself and two other participants i.

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Pavananmula trja on Lowest Unique Bid Auction…. Heiman on Lowest Unique Bid Auction…. For auctions that can end at any time, we will notify you via SMS before the close of the auction. At the close of the auction, you will be notified via SMS that you are the winning bidder.

You will also be contacted by our customer care team to verify your identity and to receive further instructions and information relating to delivery of the product. The winning bidder and bid amount is announced at the end of every auction and the details published on our website. Typically, winning bidders receive their items within working days.

We offer free nationwide delivery on most products, but for larger products, winning bidders will be required to come to collect the item from our office. Walk away with any product for an insanely low price by placing the lowest unique bid.

While some other auction sites may seem cheap but then hit you with hidden charges or only give you a few free bids at the start, Sports Fans Auctions will credit you with free bids that you can use to get the lowest unique bid by interacting with the site and doing simply things like uploading a profile picture. Even with the array of free bids that are on offer, you can also buy bid packs. If you are a premium member and you have failed to win one of the auctions and used the bids from your bid pack then these bids will be refunded to your account.

The bid packs are incredibly cheap and give you plenty of chances to submit the lowest unique bid with nothing to lose. If you love auctions and bidding you will enjoy the no risk nature of Sports Fans Auctions. Given that you can rack up a load of free bids just by verifying your email, sharing pages, inviting friends and uploading a profile pic then you have lots of chances to win.