NEW to DubLi! 500 ounce gold bar (24 karats) for … FREE – The final 20 cent bid wins! This is what you can expect from the new DubLi Zero Bid Auction, another exciting option for online shoppers who are interested in the reverse auction excitement. So how does it work? Basically, it’s the last part of the Express Auction where the price of the item is 25 cents or lower ($0.25 or lower). Essentially, the next bid will win, as the price of the item, regardless of what it is will be technically zero, or FREE! The DubLi Zero Bid Auction is one of the most fun and exciting ways to shop, especially for high priced items. So let’s break down the numbers and see how this can actually become reality.

An Example of a DubLi Zero Bid Auction
Let’s say there was a ten ounce gold bar with a value of $10,000 at the beginning of the DubLi Zero Bid Auction. In order to view the value of the gold bar, customers start bidding, after which the going price is revealed. As customers continue bidding a credit each time (that costs $.80 or 80 cents), the price of the gold bar goes down by $.25 or 25 cents. During the first day, 1000 bids are made on this item, which drops the price of the $10,000 gold bar to $9,750. As the bidding heats up through the DubLi Zero Bid Auction, the next day sees an unprecedented 10,000 bids come in. At this time, each bid drops the price by $.25 still, which brings the cost to $7,250. At any time, a DubLi Zero Bid Auction customer can purchase the gold bar, pay the price and leave the winner. However, most likely, many customers will sit tight, continue bidding until the price drops even further. After 1 week, let’s say another 25,000 bids come in. This is equal to a price drop of $6,250, bringing it down to only $1,000. If someone bids and decides to purchase it, they pay $1,000 and the true value of the gold bar is $10,000 (or 10x as much). However, just for argument sake, let’s say that the reverse auction continues. As more people get interested in this DubLi Zero Bid Auction, it quickly drops to $0.25 with 3999 bids in the last few hours. The lucky customer who submits the next bid will drop the price of the $10,000 to $0. What this means is that they get this $10,000 gold bar for FREE! No strings attached. This is an example of the DubLi Zero Bid Auction.

The only requirements to join the reverse auctions on DubLi is to become a member. Membership is completely free and there are no monthly subscription or member fees. All you need to do is purchase DubLi Credits in order to bid. Each credit is less than $1 US, and each bid in the DubLi Zero Bid Auction costs a measly 1 credit! There you go, the reverse auction in a nutshell.