Placing the lowest unique bid will be simplified after knowing few
factors. For an example, two participants placed 12.35 as their bid, three
participants bid 14.50 and one more participant has come up with 13. 93 as his
or her bid. Here the lowest bid is 12.35 but this is not the winning bid
because this bid was placed by two participants, hence it is not unique. The
next lowest bid is 13.93 and it is unique. This participant will be the lucky
winner of Honor Bid and Win Contest.
The 14.50 will be forfeited as the winning bid quoted a lower amount.