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At 3pm on November 30th lowest unique bid auction Humraz will stop accepting bids for a two bedroom flat in Woking.

The property is worth in excess of £180,000 but under Humraz’s unique scheme it will sell for less than £9000.

Humraz works by charging £3 per bid submitted online or via SMS text message. These £3 charges are pooled to cover Humraz’s costs. Whoever tables the lowest unique (i.e. unmatched) bid will win the auction. Humraz limits bids to 5% of the value of anything auctioned, so the winning bid is guaranteed to be less than £9000.

Humraz provides users with information so bidders can use skill in their bidding strategy. Every bid generates specific ‘status messages’ which tells bidders if a bid is unique or not and the price range in which the current winning bid lies.

Since Humraz launched earlier this year, the concept has attracted huge media interest. Lower value gold and currency auctions have been successfully completed, but the real excitement is over the property, believed to be the highest-value lot in lowest unique bid auction history.

‘We hope November 30th marks the first of many successful property sales,’ says Humraz founder Asmat Monaghan. ‘In time, we see Humraz auctions being a real, viable option for people looking to get on the property ladder.’

For further information, images and interviews with Humraz directors and participants, please contact:

Sami McCabe
m: +44 (0) 7789 777 440
t: +44 (0) 20 8849 8180
f: +44 (0) 20 8899 6001

Editors’ Notes:

• 2.5% of the value of the property will be donated to Warchild UK – the charity dedicated to young victims of armed conflict

• If the minimum number of bids required to cover the cost of the property aren’t received, Humraz will award £3000 to the lowest unique bidder, plus the value of all bids that bidder submitted. 60% of the remaining funds will be donated to Warchild UK.

• ‘Humraz’ is an anagram of Asmat Monaghan’s daughters’ initials

• Bids are placed via SMS, online and post: there is no premium rate telephone line

• As soon as the auction closes there are no further bids accepted

• High-res photos of Woking property available on request

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