BidKing - Complete Unique Bid Auction System

Description:

Lowest unique Bid Auction: This is a special kind of auction where the goal of the user is to place a bid that is both the lowest and unique between the bidding range as set by the person who listed it. To win, your bid must be the smallest amount that no one else has bid at the time the auction ends. In other words, your bid should be the lowest and the only one of its kind when the auction ends. This ensures there can only be one winner. Example: Imagine we have an auction where users place the following bids:

Answer: As an Admin in a Lowest unique Bid Auction, you earn money through auction coin sales. Users need to pay a bidding fee for each bid they place. This bidding fee is defined by the admin or merchant when adding the auction. To find the lowest and unique bid, users often spend many coins because multiple users are trying to bid simultaneously. Since any bid can become not unique with each new bid, users may need to place several bids, increasing the total amount spent on bidding fees.