HOW IT WORKS – TROYBID

TroyBid auctions work like any other ordinary auction with the exception of instead of the highest bidder winning the item, it is the “lowest unique bid” that wins the item in question.

In order to place a bid through the TroyBid system the process is fairly simple.  All you need to do is log into your personal TroyBid back office, transfer funds, if no funds are available toward your auction account, and choose the item you wish to place your bid on. 

As stated on our Policies and Procedures, notice that there is no minimum nor maximum amount of bids you can place on an individual item.  However, the more bids you place on an item will increase the possibility for you to place the lowest “unique” bid of the item in question.

On the other hand, all items have a minimum required of bids necessary in order to release an indivual item.  This information will be displayed at the time that the bid on an individual item has been set.  It the limit has not been reached, the bidding on this individual item will be extended.  Every time a bid is place 1 minute prior to closing auction, an additional minute will be added to the extended time frame.

Look at the image displayed below to get a clearer look on exactly how a lowest unique bid works.