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  How Does YouBid.com.au Work?

Lowest Unique Bid:


Unlike traditional auctions this type of auction requires bidders to place bids that are unique.
 
So for a bid to be eligible to win no other bidder can bid for the same amount. Bidders are able to apply multiple bids and the number of current bids at each amount is kept secret. In addition to this the winning bid must be the lowest bid that is unique.
The winner is the bidder who has the lowest bid that no one else has chosen at the end of auction
 
What to do
 
Step 1:
 
If you are a member log in.
 
If not then register as a member for free by completing the registration form. 
Your password will then be emailed to the email address you provided. Please keep your username and password confidential, otherwise you may allow others to access your details and place bids on your account.
 
You are fully responsible for all activities that occur through your subscription and under your password and account.
 
Step 2:
 
Select and auction you wish to bid on
 
Step 3
 
Place you bid -  you can bid any amount down to and including the minimum specified for that action in the listing. An admin fee applies for each bid placed. The admin fee varies and is specified in the auction listing
 
You can place multiple bids on any one auction
The admin fee applies to each bid
 
Bids increment in steps of  0.01 eg if the min bid amount was $1.00 you can bid $1.00, $1.01, $1.02 etc. Each one of these counts as a distinct bid.
 
Step 4
 
Your admin fee will be deducted from your account.
 
If there are insufficient funds in your account you will be directed to a payment page where you can add funds via paypal or direct deposit.
 
You do this anytime by clicking on the Add Balance link on the members box on the RHS - which you can only see when logged in.

There are 2 ways to deposit funds into your Account membership:
• PayPal / Credit Card
• Direct Deposit
All funds must be in Australian Dollars. 
There is a minimum transfer fee of $10.
 
Step 5
 
Once the required number of bids have been acquired the auction is closed and no further bids can be made.
 
Step 6
 
If your bid the lowest unique bid you have won the auction.
 
How it works
 
 
In this example the Bidder who submitted a bid of $1.33would win the auction, and would be eligible to purchase the product or service for $1.35 (rounded to nearest 5c) , because their bid was the lowest unique bid. Amount shown does not include admin fee charged when placing a bid.

So a $10,000 product can be won for just a few dollars.

Remember: In a live auction the Lowest Unique Bid is continuously changing, for instance in this example someone else was to bid $1.27, then $1.33 would no longer be a “Unique” bid.
 
If you are outbid in this manner you will be notified by email so you have the opportunity to bid again if you wish