June 2010

What do you think of lowest unique bid auctions, have you bid on them? More importantly have you ever won an item on one? Discuss this in our lowest unique bid auction forum.

What is a Lowest Unique Bid Auction?

Some have called them the cousin to the penny auction, similar in that users pay per bid and only one bidder can win, lowest unique auctions are auctions where the lowest unmatched bid determines the winner.

To bid in a lowest unique bid auction users must first purchase bids,  they can then input an amount that they thing the lowest unique bid could be, for i.e. $0.03, $5.35 (it varies depending on how many bids have been placed), some sites allow users to place a range bid in, $0.03-$0.90, etc. Some sites will provide users with signals as to whether or not they are the lowest unique bid.

We’ve previously told you about other Lowest Unique Bid Sites, including  Winnit.com co-founded by singer/celebrity Nick Lachey and theSmartBid, all of which have received increasing popularity.

Today we’re going to tell you about Scoodaloo

Scoodaloo is a fairly new lowest unique bid auction site that launched in March of this year, based out of Singapore, Scoodaloo Ltd ships to the US/ international winners.

• Bids on Scoodaloo are made using  credits, each credit has a $0.50 cost, 1 bid costs between 1 and 3 credits. Users may place  single bid, multibids or a bid range. Bids are made in cents, each auction has a maximum bid and the minimum bid is always 1c.

• Each Scoodaloo auction closes either when the timer runs out or when the required amount of bids is reached (reserve), which ever comes first. On each auction there are two bars displaying clearly how much time is left and what percentage of required bids have been placed.

• Each auction has a maximum bid (in cents).  This means that users cannot place a bid higher than the specified amount.

• Scoodaloo tells us that their shipping lead time is about 2 weeks, and shipping is free, unless international and shipping is more than 10% of product cost.

What do you think of Scoodaloo? Let us know!

Want to win free bids to try Scoodaloo?

Scoodaloo is offering 5 prizes of 50 bids each to 5 winners that Tweet this post, (Click Retweet on the top right of this post) to be eligible to win by July 1st at 7 pm EST.

Penny auctions more your style? Join our penny auction forum!

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