Reverse price Auction's, Lowest unique bid wins ?

Paddy20

Just came upon this HOWLO Auction , where apparently the lowest & most unique bid wins !. Anyone have experience of this website on: www.million21.com
in the UK.

Looks genuine enough, but I am mystified and fascinated about how the auctions work ?.... :eek:

P.

viking

O2.ie ran one of those auctions back in January, the prize was a trip to see Man Utd v Arsenal at Highbury.
Its an interesting concept, if send a text and I uniquely bid 20c and later Paddy also bids 20c then the bid is no longer unique and the next lowest would be the current winning bid. If no-one else guesses that amount before the end of the auction then that person wins the auction.

A couple of things regarding it:
1) If you bid and it is unique you are told it is unique however you are not told if it is the current winning bid, somebody could have a bid lower than yours.
2) If your unique bid (not lowest) becomes the lowest you will not be notified.
3) Oh and the texts cost €2 per bid

Viking

joe.

Genius idea.

wheres me jumpa

we have covered these in college. seemingly some internal flight operators in the states are operating this way for, i presume, some of their flights.

Wertz

The catchpenny with these auctions is that you pay to bid, via registration fee or somesuch...it's basically a lottery that invloves some skill and guesswork. Most likely very addictive too. They're genuine though.