OTTAWA, March 21 /PRNewswire/ -- UniqueAuction.com began auctioning off the much anticipated PlayStation 3 Monday, March 20th, 2006 beginning with a free auction. This will be the first of many pre-release auctions where winners are guaranteed the coveted system upon its release. The 100% free auction will run for one week, ending at 9:00 p.m. on Monday, March 27th, 2006. There will be no bidding fees, no shipping charges, and the winner will receive a PlayStation 3 upon its release. Users will be limited to five bids each for the first three days of the free auction. At 12:00 a.m. EST on Thursday morning up until the end of the auction, bidding will be unlimited and Platinum members will be able to place multiple bids with the click of a button. The same UniqueAuction rules will apply where the most unique bid wins. The free auction will follow with a number of other pre-selling PlayStation 3 auctions. While Sony has not yet released the retail price of the next generation system, UniqueAuction has set its price, making it simple. The console will be sold for no more than $8.00. Yes ... only eight dollars! How can a PlayStation 3 worth hundreds of dollars be auctioned for less than it's worth? The answer is simple. A small bidding fee is charged ($1.00 for platinum members and $2.00 for regular members) to cover the retail price of the product. This way, the retailer gets the full price while the winner buys it for the fraction of the retail price. 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, the PlayStation 3 will have a ceiling price of $8.00. Users can select or "bid" numbers from anywhere between 0.01 and $8.00. Let's say three people bid $8.00, two people bid $7.99 and one person bids $7.98, then the "most unique bid" would be $7.98. This means the winner will only pay $7.98 for the sought after system. UniqueAuction does not require luck, but more importantly skill and strategy providing everyone with an equal opportunity of winning. For more information on UniqueAuction, please visit http://www.UniqueAuction.com.