How do RewardsCentral unique bid auctions work?
In traditional auctions, you place bids on an item and the highest bid wins at the end of the auction. Now, imagine the reverse of that: the winner of a Unique Bid Auction is the person with the lowest unique bid.
For example, an MP3 Player is up for auction and the current winning bid is $5.07. Mike enters a bid of $5.03, which is lower than the current winning bid. Because no one else has already placed a bid of $5.03, Mike’s bid is currently the lowest unique bid.
Now Jenny places a bid on the same auction for $5.03. Because Mike already placed a bid for $5.03, this is no longer a unique bid. Both Mike & Jenny’s bids are cancelled out because they are not unique.
Now the next lowest unique bid goes back to $5.07, until either:
- Another bidder places a lower unique bid;
OR
- Someone else also bids $5.07, making it no longer unique. Then the winning bid would become the next lowest unique bid.
What does "Lowest Unique Bid" mean?
A "Unique Bid" means a bid with a value different to any other bid placed in the auction. The "Lowest Unique Bid" is the lowest of these.
How do I place a bid?
All bids need to be entered in cents. For example, if you wish to bid $1.00, enter 100. You can either place a single bid on an auction item, or multiple bids.
To place a single bid:
- From the Unique Bid Auctions home page, click on the auction you wish to bid in.
- Click in the Your Bid field, and type the amount you wish to bid in cents.
- Click the Place Bid button.
- A confirmation screen will appear. Click Place Bid Now to continue.
To place multiple bids at one time:
- From the Unique Bid Auctions home page, click on the auction you wish to bid in.
- Click on the Bulk Bid tab.
- Type up to ten bids, one in each field. Alternatively, click the Autopick link to automatically pick ten recommended bids within range of the current lowest unique bid.
- Click the Place Bid button.
- A confirmation screen will appear. Click Place Bid Now to continue.
After successfully placing your bid(s), you will receive a message displaying your bid status. Click here for more information on bid status.
Should I bid above or below the current winning bid?
Remember, it can often make sense to bid below the current lowest unique bid. There could be a gap in the bids below the current winning bid that no one has placed a bid on yet, and if you were to place a bid in that gap, yours would then become the lowest unique bid. For this reason, the current lowest unique bid can go up and down over the life of the auction.
So don't assume you should always bid higher than the current winning bid, bidding lower can work too!
What are some strategies for winning a Lowest Unique Bid auction?
Unique Bid Auctions are a game of skill and strategy. There are a few different strategies you can employ when bidding in a RewardsCentral Lowest Unique Bid auction.
In the example diagrams below, the bid amounts and number of bids are shown to you in order to illustrate how the strategies work. Even though in a real unique bid auction you don't know what other people have bid, the strategies still apply in the same way.
Why should I bid early? Isn't it best to wait until the last minute?
For most Unique Bid auctions the bidding fee increases over time. In the last few days of an auction it will cost more points to place a bid than it would have cost at the beginning of the auction. So bidding early allows you to place more bids for the same amount of points. Bidding early also improves your chances of being the winner if there are no unique bids at the end of the auction.
What happens if no bids are unique at the end of the auction?
If at the end of the auction there are no unique bids at all, the auction winner will be the member that placed their bid first on the lowest bid value with only two bids. For this reason, it's in your best interests to bid early.
How do I check the Auction progress?
Return to the Unique Bid Auctions page to view all live auctions, or use the My Auctions section to view all of your bids on an item. The bidding history page will help you track whether your bids are "lowest unique" or "unique but not lowest", and this can have a bearing on the strategy you use for further bidding.
Where can I check my current bids on an item?
You can track your bids by viewing the My Auctions page. You will also be notified by email if the status of one of your bids changes from "lowest unique" or "unique but not lowest".
What does the bid status mean?
| Lowest unique bid |
Unique but not lowest |
Not unique |
 Congratulations! You currently have the winning bid.
This can change however, if someone else makes a lower unique bid than yours. |
 Your bid is unique, but not the lowest unique bid so far.
This could become the lowest unique bid if the current winning bid is no longer unique. |
 Your bid is not unique, and cannot win this auction.
You need to place a new bid to be in with a chance of winning. |
Do I need to pay with real money?
Yes. The winning bidder will need to pay for the final winning bid amount, plus delivery of the item. Payment is accepted by Credit Card or Bpay.
How soon do I need to make payment for my winning bid?
You will need to make payment for your winning bid (plus delivery) within 7 days of the end of the auction. If payment is not received within 7 days, your winning bid will be cancelled.
How do I make payment for my winning bid?
You can pay for your auction item by credit card or Bpay. The delivery fee will automatically be added to your final winning bid amount.
It is very important that your street address is correct. You would be surprised how many times an auction item is returned to us as "undeliverable", all because the winning bidder made a mistake entering their address.
Most RewardsCentral auction items are delivered by courier. Since couriers cannot deliver to a PO box, it is important that you enter a physical street address.
If your auction item is returned to RewardsCentral because the address is undeliverable, RewardsCentral will charge to your points account the total cost of postage to have the item re-sent.
To make payment by credit card:
- Go to the My Auctions page.
- Click the link in the left hand column that says "Click here to pay the final bid value now and claim the item".
- Make sure your delivery address is correct and then click Confirm address.
- Select Credit Card from the payment method drop-down box.
- Click Pay Now. You will be redirected to the secure payment page.
- Follow the instructions given to enter your credit card details and process the payment.
You will receive a confirmation message to inform you whether or not the transaction was successful.
To make payment by Bpay:
- Go to the My Auctions page.
- Click the link in the left hand column that says "Click here to pay the final bid value now and claim the item".
- Make sure your delivery address is correct and then click Confirm address.
- Select Bpay from the payment method drop-down box.
- Click Proceed with payment.
- The Bpay biller code and reference number will be displayed on screen. If you wish, you may click Email Details to have a copy of these details sent to your registered email address.
- Complete the payment by Bpay using your phone or internet banking service provided by your financial institution.
When will my item be delivered?
Your item will be delivered within 8 weeks of the payment date.
You can help to ensure fast delivery by checking that your street address is correct before bidding. You would be surprised how many times an auction item is returned to us as "undeliverable", all because the winning bidder made a mistake entering their address.
Most RewardsCentral auction items are delivered by courier. Since couriers cannot deliver to a PO box, it is important that you enter a physical street address.