 |
Maximum
bid in this example: $20.00
Number of bidders: 9
|
Bid no. |
Bid
amount |
Unique or not
unique |
| 1 |
$20.00 |
Highest
bid
but not unique |
|
2 |
$20.00 |
Highest
bid
but not unique |
| 3 |
$17.50 |
Not
a unique bid |
|
4 |
$17.50 |
Not
a unique bid |
| 5 |
$8.65 |
Highest
unique bid |
|
6 |
$6.30 |
Not
a unique bid |
| 7 |
$6.30 |
Not
a unique bid |
|
8 |
$4.75 |
Unique
bid
but not highest |
| 9 |
$2.65 |
Unique
bid but not highest |
|
 |
|
At American Fuel Auctions, the highest UNIQUE bidder becomes the
owner of the auctioned lot.
This is known as a "unique bid auction".
To find out more about types of auctions: click
here.
It's just a little twist to the conventional way of auctioning
in order to give bidders an opportunity to obtain a fuel gift
card at the absolute LOWEST price. And you don't have to give
this card to somebody else... just use it for yourself.
Participants in our auctions can enter a bid that they are prepared
to pay for the fuel card. There is only one bidder who can obtain
ownership of the fuel card, so if there are bidders who have entered
the same bid, those bids are not unique anymore.
There can be a lot of unique bids been entered during an auction
but only the highest of those unique bids is successful. |
