How does it work?
The method used will be known as the “Lowest Unique Auction” which works as follows:Let’s take for example a TV set of R3000 is put on action. The lowest amount permitted for bids would always be R0.01 while the highest will be indicted and let’s take R300.00 as an example in this case.
The lowest unique bid would win the TV set and by this is meant the lowest bid that is not duplicated by any other member placing a bid. If 2 members were for example to bid R0.72 and R0.71 and you would place a bid for R0.70 then you would for that moment be the lowest unique bid but when the next member comes along the following day and also bids R0.70 then your bid is no longer the lowest unique bid and neither you or this member will now be in line for the TV as a new unique lowest bid would be needed for this.
All actions are “blind” meaning that nobody will be able to see or know what the lowest unique bid is and this will only be revealed after the auction is closed.
The system will immediately indicate that your bid is either (1) the lowest unique bid (green) or (2) an unique but not the lowest bid (orange) or (3) not unique (red) but no sms messages to this effect will be sent out to members.
The (1) green - above obviously means that you are currently the lowest unique bidder with the winning bid but any other member can at any stage also bid that same amount after which you will receive a sms informing you that you are no longer the lowest bidder while (2) orange - will indicate that you are unique (no-one else has this bid) but it is not the lowest available amount but remember that this could still turn green in the future when all the amounts lower than this one has been used and (3) red - means that the bid is not unique has no chance of ever being the winning bid.
The lowest unique bid can in reality be anywhere between R0.01 and R300.00 and any member placing a bid between the minimum and maximum amounts could be the auction winner depending on what the other members bids were.
There are different strategies which will involve certain skills in which to participate in the DTN Auctions but members will soon find their own unique way which they will prefer.
Proceeds (profits) of the auctions:
The DTN Auctions are, as mentioned, only for the use and benefit of DTN members and all proceeds, minus (1) the purchase price of the item (2) the actual costs including taxes and expenses and (3) a minimal administrative fee, will be given back to members in the form of commission as set out below and it is therefore of the utmost importance that all DTN members encourage all the persons in their down-lie to participate in the DTN Auctions as this would mean commission back to you.
Let’s for example take a member TO12345L making numerous bids on an item and the profit generated by this one member is R100.00. This amount is then divided in 5 giving each of the 5 persons in the member TO12345L’s up-line each receiving a commission of R20.00
Member TO12345L who was participating in the auction will not, other than maybe placing the winning bid and receiving the item at a very special price, not benefit himself but will do so if his down-line participates in the auctions and it is therefore very important for each member to market this feature and to encourage his/her down-line to pay as much as possible.
