Bidding twice at same Dollar Value

[newenglandwhimsy]

Scenario -  Bidding: I have received 4 bids, both consecutively. The 2 bidders bid the same number twice. Why?

[southern*sweet*tea]

They decided they bid too low, so they raised their bid to compensate.  I've done it before - made a bid, then decided I would pay more to win it, so I would re-bid a higher amount.

You won't see how high they actually bid, just the current showing bid.

[newenglandwhimsy]

Thank you for your assistance.

However, the bidders did not bid a higher amount. The amounts bid for were the same amounts. 

[nobody*s_perfect]

The high bid in a listing is always shown as just one bid increment above the second-highest bid, regardless of the amount of the actual proxy bid.  (Exceptions occur if there's a Reserve that is met, or if there is less than one full bid increment between the two highest bids.)

And you can't bid against yourself, so if that high bidder places another bid, then both bids will show as the same amount even though the second proxy bid is higher.  

If you want further analysis of the bidding history, please provide  a link or the listing number.

[southern*sweet*tea]

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@newenglandwhimsy wrote:

Thank you for your assistance.

However, the bidders did not bid a higher amount. The amounts bid for were the same amounts. 

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You will only see the current showing bid, you won't ever see the actual amount they bid.   When someone else comes along and bids, their bid would need to be higher than the first bidder's bid in order to show. If it's not, the bids will go up only by the number of bid increments to keep the first bidder ahead.

I'm sure someone else can explain it better as I rarely bid on auctions, much less run them.

[newenglandwhimsy]

Hi "Sweet",

I reread your reply. I understand the planning behind this idea. 

Further, I very much appreciate Sowell's remarks and your brilliance to use them.

Thanks so much for your help, 

Anita 

[lacemaker3]

@newenglandwhimsy,

I looked at all of your auctions, and I couldn't find any of them that showed the pattern of bidding that you described.

This was the closest I could find, but as you can see the two lower bids are not for the same dollar amount. They were placed by the same buyer though, and so were the two higher bids, which are for the same dollar amount because the high bidder placed a second bid to raise his proxy amount. In that situation, the high bidder can't raise the price if they are bidding against themselves, so the price stays the same as their earlier bid.

Until the second (high) bidder came in today and placed their two bids, the first two bids would have both shown as $10.00 for the same reason; the bidder can't raise the price by bidding against themself.

[714ricki]

The bidder entered the 1st bid & then assumed it was too low. Then, they entered a higher second bid to possibly help them when the auction. This is normal!

[newenglandwhimsy]

I appreciate your taking the time to help me understand this bidding response. Thanks so much for your explanation.  

[newenglandwhimsy · Accepted solution]

Thank you for your time in assisting me with understanding the bidding platform. I understand! Again, thanks a million....

[newenglandwhimsy]

Thanks so much for taking the time to help me understand the bidding process. I appreciate it!

[trixnot_81]

It’s also possible for two different bidders to be in a tie for the high bid. In that case, the one who bid that amount first is the leader/winner.