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Bidding increments
I was bidding on an item where the standing bid was 500.00. I was only given the opportunity to bid in 25.00 increments. I bid 525.00 and got high bid. One minute later I was outbid by a 10.00 increment at 535.00. How was someone able to bid a lower increment than I?
thank you
6 comments
lady_madonna
Mentor1 year ago@svird2012
When a bidder places a bid, it must be one increment above current price showing on the listing, NOT above another bidder's hidden maximum proxy bid.
All the winning bidder had to do is place a bid one increment above the price that was showing after you placed your bid, they did not have to bid one increment above your hidden maximum bid.
svird2012
OP1 year agoThank you for the reply. I made one bid, there was no hidden maximum.
lady_madonna
Mentor1 year ago@svird2012
Do you have an item # or link to the listing page in order to examine the bidding history page?
svird2012
OP1 year agoThe link- https://www.ebay.com/itm/405866569407
lady_madonna
Mentor1 year ago@svird2012
When you placed your bid, the price showing would have been $500 if it asked you to place a bid of $525 or more. After you bid, the price showing would have increased to $505 (based on the previous bidder's maximum bid), and the remaining $20 of your bid would have remained "hidden" until the winning bidder placed their winning bid of at least $535.
https://www.ebay.com/bfl/viewbids/405866569407?item=405866569407&rt=nc&_trksid=p4429486.m145235.l2565
svird2012
OP1 year agoThank you again, I understand. The hidden part of the bid is a strange way to run an auction I think, because it is confusing. I understand that it might tend to bring about a higher bid.
peace