mystarbid - bid and win strategy

Mystarbid is a reverse auction website where the lowest unique bid wins. It's a brilliant and exciting new way to win brand new products for a fraction of their guide price!


Bid Rules

The idea of a reverse auction is that a player aims to be the lowest and unique bidder on an item, and the bid has to be one which no other player has made i.e. the lowest unique bid.

For each auction there is a reserve, the minimum number of bids needed before the auction can close.

At the close of the auction, whoever has placed the lowest unique bid will be entitled to purchase the product/service for the cost of that bid.






How Do You Win

You should use your skill and judgement to develop a winning strategy.
The variation from the traditional style auction system is the auction result is awarded to the Lowest Unique Bid when the predetermined Required Number/time of Bids has been met and the auction is closed. Each Bidder is required to pay an Administration Fee in order to place a Bid. This is best illustrated with the following example:

Apple iPod Shuffle 1 gig - Recommended Retail Price : $199
Required. No. of Bids : 200
Administration Fee : $2.75
At the end of the auction the lowest ten bids may look like this :
Bid 1: $0.01
Bid 2: $0.01
Bid 3: $0.02
Bid 4: $0.02
Bid 5: $0.02
Bid 6: $0.03 Lowest Unique Bid
Bid 7: $0.04
Bid 8: $0.04
Bid 9: $0.05 Unique, but not the lowest
Bid 10: $0.06
Bid No.6 is the Lowest Unique Bidder and is awarded the auction result and would have to pay only 3c. He/she has therefore purchased an article for $3c (Bid Amount) + $2.75 (Admin Fee) = $2.78 = 1.4% of the Retail Price ($199)!
The game is easy to play and success depends on you being able to outwit fellow bidders by using your skill and strategy to place the lowest unique bid!


Strategy

Try and predict where you think the auction will end and place bids around that price mark first..


Get your bids in early! If there is no single lowest unique bid then the winner is determined by the first person to place a bid.

75% of bids are made within the last 24 hours, make sure you have enough credits left to cancel out other bids!