Reverse Auction

Auctioning Redefined!

JeetLe.in is the no. 1 Reverse auctioning website in India. We don’t claim this; the consistent increase in the number of our users and bidders declares that!

But what sets our auctioning site unique is the Reverse-Auction System, which brings a novelty and an innovation in the process of auctioning!

Allow us to further elaborate and make the concept simpler for you to be understood.

Like any other auction, here too you place bids of cash for a product of your choice that’s being auctioned. But unlike the others where you bid with increasing amounts, here you bid in reverse order i.e. you bid for lower cash than your previous bid! Starting with a higher amount you should come down to a lowest-and-unique bidding price, depending on your game plan and strategies!

Since this is a time-based auctioning system, at the end of the prescribed time that user or bidder who would have the lowest-and-unique bid amount, will be declared as the winner!

Still don’t get it? No issues assume this hypothetical situation!

Suppose four arbitrary personals – A, B, C and D – are bidding for the same product.
•    Person A bids an amount of Rs. 2 and person B bids an amount of Rs. 3 – thus, in this situation Person A becomes the lowest and the unique bidder. On the contrary, both A and B are unique bidders, mind you. So if your profile shows that you are a unique bidder, it doesn’t imply that you are the lowest!
•    Now person C also bid’s for an amount of Rs. 2 – in this situation he bids same as person A unknowingly, since the bidding amounts are never made public. Therefore, both A and C become not unique bidders! Tough their amount is lowest but not unique; here person B – with a bidding amount of Rs. 3 – automatically becomes the lowest and the unique bidder.
•    As for person D, depending upon his bidding amount say –
1.    Rs. 4 – he becomes not lowest, not unique bidder.
2.    Rs. 1 – he becomes lowest and unique bidder.
So we hope we have answered all your queries and cleared all your doubts!! Rest assured we can only encourage you to take a plunge at this wishful endeavour and hope that you come out with flying colours!

*Happy Bidding*  :-)