Bid increment question

[northshore2112]

From another site:

<Here’s a way to win auctions without having to overbid—bid a penny or two more than an even dollar. For example, if you want to bid $10, bid $10.01 instead. Your bid will beat any bids at the same approximate amount ($10.01 beats $10.00), without your having to place a new bid at the next whole bid increment.>

Is this correct?  Assume an auction with current bid of $10 and current bid increent of $0.50 is sscheduled to end Wednesday.  Would a sniped bid of $10.60 placed on Tuesday beat a sniped bid of $10.50 placed the prior day?

Thanks.

[nobody*s_perfect]

Each new bid must be one full bid increment above the current high bid showing, not above the high bidder's full hidden proxy bid.  Thus, differences of less than one full increment are possible.  Even ties do happen.

If the high bid showing is $10.00, eBay will accept any bid of $1050 or more regardless of the amount of the high bidder's hidden proxy bid.  If the bidder's hidden proxy bid is actually $10.50,  and you place a bid of $10.60, then you will beat out the earlier bidder.

I am confused by your definition of a snipe bid.  A snipe bid is placed during the final moments of the auction. If an auction  ends on Wednesday, it is not possible to place a snipe bid on Monday or Tuesday.

[dougsue123b]

I think he means the automatic bid.

[woodland_gnome]

If you mean that the $10.50 bid is showing at $10.00 when you bid at the last minute, and there are no other bids, yes, your $10.60 bid would win.

If you mean the current bid was showing as $10.00 and you set up a snipe of $10.60 with a snipe service but someone else placed a bid of $10.50 before your snipe was executed, your bid would be rejected for failure to meet the bid increment (the new "current bid" after the $10.50 bid would at least $10.50, more if the hidden max of the leader at $10.00 was more than that, so the minimum for a new bid would be $11.00 and your $10.50 bid would be rejected).

Adding a bit above even numbers gives you an advantage over bidder who just bid the even numbers.  It does not guarantee a win.  It just breaks what otherwise might have been a tie (which the earlier tying bid would have won).

[pburn]

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@woodland_gnome wrote:

so the minimum for a new bid would be $11.00 and your $10.50 $10.60 bid would be rejected).

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FTFY. Just to avoid confusing the OP even further.

[castlemagicmemories]

The higher bid always bids out the lower bid no matter when it was entered.

Bidding something over a bid increment in advisable.  Don't bid numbers like $10.50~add a little bit more.  Bid 10.59 or more.  

but bid your max bid.  

[reallynicestamps]

If an auction  ends on Wednesday, it is not possible to place a snipe bid on Monday or Tuesday.

Well, actually.....

A bidder using a sniping service like esnipe.com can set his bid at any time-- the service will place it for him at the last moment.

Of course, until the service places the bid, no one can see it, and it does not affect how the earlier bidding goes.

Bid once.

Bid your maximum.