Real Estate Auction using lowest unique biddingJune 1, 2012 / by Marco / Categories : Business
The “lowest unique bidding” has been around for quite a number of years now and the way it works is that items are for sale by using a reverse auction process. Rather than the bidder with the highest bid winning (as is the case in traditional auctions), the winner is the person who has the “Lowest Unique Bid”.
Will this work for a Real Estate auction? I mean obviously you will set a minimum bid amount that is your reserve price. I haven’t seen this around but what do others think.
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