A unique bid auction is a type of strategy game related to traditional auctions where the winner is usually the individual with the lowest unique bid, although less commonly the auction rules may specify that the highest unique bid is the winner. Unique bid auctions are often used as a form of competition and strategy game where bidders pay a fee to make a bid, or may have to pay a subscription fee in order to be able to participate.
Read more about Unique Bid Auction: Mechanism, Profitability of Unique Bid Auctions, Legality, Mathematical Analysis
Famous quotes containing the words unique, bid and/or auction:
“The unique eludes us; yet we remain faithful to the ideal of it; and in spite of sense and of our merely abstract thinking, it becomes for us the most real thing in the actual world, although for us it is the elusive goal of an infinite quest.”
—Josiah Royce (1855–1916)
“O sweet everlasting Voices, be still;
Go to the guards of the heavenly fold
And bid them wander obeying your will,
Flame under flame, till Time be no more....”
—William Butler Yeats (1865–1939)
“The white American man makes the white American woman maybe not superfluous but just a little kind of decoration. Not really important to turning around the wheels of the state. Well the black American woman has never been able to feel that way. No black American man at any time in our history in the United States has been able to feel that he didn’t need that black woman right against him, shoulder to shoulder—in that cotton field, on the auction block, in the ghetto, wherever.”
—Maya Angelou (b. 1928)