BidAuctionScript

08 Feb, 2009

Bid Auction Script

Posted by: ManageerBidAuctionScript In: Auction Script

A bid auction script is a type of strategy game related to traditional auctions where the winner is usually the individual with the lowest unique bid, although less commonly the auction rules may specify that the highest unique bid is the winner. This type of auction requires bidders to place bids that are unique. That is, for a bid to be eligible to win no other bidder can have made a bid for the same amount. Bidders are generally able to place multiple bids and the number of current bids at each amount is typically kept secret.
If the auction declares the lowest unique bid as the winner, then the player who submitted a bid of minimum value would win the auction, and would be eligible to purchase the product or service for that value, because their bid was the lowest unique bid. If the auction was for the highest unique bid as the winner then the player who submitted a bid of high value would win the auction.

A $30,000 item can be won for pennies this way, however, the true price may be more than a penny as the auction site may charge a fee for the right to bid, or a fee per bid.

Paradoxically, lowest unique bid auction conform more to the true meaning of the word than highest unique bid auction. In that, bid values increase, albeit in very small increments, during the course of the auction as competing bids are gradually matched.

Some auctions software require you to simply submit your bid and sometime in the future, when the auction closes, you will be told if you are successful. Others will also tell you if your bid is unique or not when you place your bid.

Unique bid….has to be unmatched at the close of the auction. Another couple of bidders could of each bid…an identical lower price, but their bid would not be unique. With this type of auction the starting price would be at the normal sale price.

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BidAuctionScript is a professional web design company providing web development solutions for companies or individuals interested in outsourcing their web design and web application development needs. Operating since 2002, we are pioneer in rendering dynamic, smart and professional web based solutions for small to large enterprises as well as other web design companies.