In the lowest unique bid auction (LUBA), the profit and winning motive lead to the same bidding strategy in equilibrium. In the highest unique bid auction (HUBA), the profit and winning motive lead to different bidding strategies in equilibrium.

How do you win a low unique bid auction?

To win the auction, all bids that are lower and unique must be knocked-out of the auction by either you or another bidder placing the same amount.

How does a unique bid work?

In the unique lowest (highest) bid auction game, the winner of the prize is the player who submits the lowest (highest) bid provided that this bid is unique, i.e., unmatched by other bids.