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The need to save money becomes more of a priority every single day for most of us. We are told that the recession is slowly coming to an end, but that does not mean that many people are still not feeling the pinch. In reality, most people have had to extend lines of credit during hard economic times and it is only now that they are slowly paying them off. Lowest unique bid auction sites represent a great way to try and save large amounts of cash, without too much effort; but how do they work? What is lowest unique bidding? Lowest unique bidding is when the winner of a bidding auction, is the bidder with the lowest bid, that no other bidder has chosen. For instance, if 5 people bid £0.01, 4 bid £0.02 and 1 person bids £0.03, the lowest unique bid will be the person at £0.03. Unlike normal auction sites, the focus is not on the ending price, but how many bids it has taken to actually win the auction. How do bidders get involved? In order to get involved in lowest unique bid auction sites, the user will need to be over 18. As long as they have a bank account to pay for their bid credits, they will be able to start bidding instantly. Each bidder will have the opportunity to practice on a few of the lower value auctions, before they spend lots of cash on the bigger auctions. Remember, this is not guaranteed, just like bidding on standard auction websites; but these websites do cost money for each bid that is placed! The sign-up process The sign-up process for lowest unique bid auction sites is incredibly easy. The reality is that all people need to do is fill out a basic registration form in order to get started. In fact, this is no different to many of the other auction sites that we all know and love, but the chances to save money are much higher! Obviously, once the sign-up process is complete, each individual will need to purchase bid credits in order to place bids on the items that they want to win. What is the duration of an auction? The auction duration varies a great deal. Some can last a few hours, where as others can last a few days or more. Why? This is simply because there is a "bid cap" on each auction. These auctions make money not by charging ridiculous fees to sellers, but by charging for bids. The majority of the top auction sites that operate in this manner will wait for several hundred bids to be placed before the auction is over. What about getting items delivered? Here is another great thing about lowest unique bid auction sites; most of the time delivery is free. A lot of the times, on standard auction sites, the delivery cost can represent 5-10% of the item value. This suddenly makes a bargain more expensive, which is not the case for people that are using this unique method of bidding and winning auctions on the internet. The BidGrid unique bid auction website has free practice auctions which are a great way for newcomers to learn the ropes, they also have a buy it now feature which means risk free bidding for everyone. Take a look here.
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