Updated: March 4, 2006

Unique Auction to begin PS3 auctions within a few weeks

Last year UniiqueAuction were able to sell 100’s of Xbox 360’s at a fraction of the regular retail price. With the recent rumors of the Sony PS3 retailing for anywhere from $500-$700, Unique Auction are hoping to continue their success while at the same time offer gamers next gen console at an unbelievable price.

Earlier today we had the chance to talk with Unique Auction about their “unique” system and the launch of the PS3. UA spokesperson, Scott Ledingham believes that UA will have one PS3 within a few weeks, which of course will be available to the winner with the highest unique bid.

Below is the Interview

When do you expect to get the Sony PS3?
We expect to have at least one PS3 in hand by mid-march.

When will they go on auction?
In mid-march, the PS3 auctions will begin on UniqueAuction, with the console being available for under $10.00.

How many will go on auction?
Depending on the success of the auctions, we should have multiple auctions, one after the other, including one hour auctions. The auctions held before the official launch date will guarantee the winners a PS3 upon its release.

We will have one advanced copy of the PS3 that will be sent out to the winner, all other auctions won before the official launch date will guarantee the winners a PS3 upon its release.

Much like retailers that get an advanced console prior to release for display purposes, we will also get one in advance.

Will this be a one time deal?
As long as the PS3 is popular, we will continue to make it available on UniqueAuction for a fraction of the price. We continue to sell the Xbox 360 for no more than $4.34 and still get a tremendous response from those auctions.Xbox 360

How is this possible? Can a PS3 really be sold for under $10.00?
Unlike traditional auction sites, it's not the highest bid that wins; it's the most 'unique' bid that wins - a number that no other bidder has selected. For example, if the PS3 retails for $700.00, UA will have a ceiling price for the console for as low as $7.00. Users can pick numbers from anywhere between 0.01 and $7.00, at a cost of $2.00 for regular members, and $1.00 for Platinum per selection or “bid”

Let's say three people bid $7.00, two people bid $6.99 and one person bids $6.98, then the "most unique bid" would be $6.98. This means the winner will only pay $6.98 for the sought after system.

The small bidding fee that is charged per bid ($2.00 for regular members, $1.00 for platinum members) covers the cost of the PS3, allowing UA to auction it off for so low.

Will there by any games with the consoles?
When the games are released, we will make them available for auction. We currently have Xbox 360 games for under a dollar, and the same will be done for PS3 games.

How did you secure such a great opportunity?
During the Xbox 360 launch, we purchased hundreds of consoles, making a number of contacts within the gaming market during that time. These contacts are allowing us to pre-order and even get an advance copy of the PS3.

Do you have tentative plans to do the same with the Nintendo Revolution?

Nintendo Revolution
Absolutely. Anytime a hot new item is released, you?ll find it on UniqueAuction at one percent of the retail value. Currently on the site there's a $100,000 dream wedding, exotic vacations, 30 iPod videos, Xbox 360's, PSP's, a Hummer H2, cars, jewelry, televisions and much more ... all for a fraction of the price.

Any idea when?
I’m hearing rumors of an April - November 2006 launch with the console going for around $200.00. So, you can expect to see it on UA for $2.00 sometime in the spring time.

Is this a lottery or raffle site?
No. It's a game where winning depends on the user and their own strategy. Nothing is hidden from the user, all bids and the bid history can be scene, allowing them to cancel out others to enhance their winning strategy.

What happens if a product isn't sold?
Reserved auctions come with a reserve price, which means the total number of bids must equal to the retail price of the item before the winner is declared. If the reserve is not met, all bids are refunded.