Our old auctions were run using the commonly available lowest unique bid auction model which required bidders to pay for each bid placed. This auction model relied on small incremental payments taken immediately from bidders, which meant that for very high value items, such as property, it was necessary to set a reserve price.

Using the insights from these auctions and after many months of design and development we created an auction model that radically redefines lowest unique bid auctions.

Our new auctions do not levy a charge for each bid placed, to place numerous bids you simple book a seat to attend a virtual auction. No payment is taken until the auction is confirmed and there is no reserve.

Additionally we have 'levelled the playing field' as bidders are only able to book one seat in an auction and all seats allow the same maximum number of bids.