posted on October 19, 2001 01:46:34 PM new
Hi:
Just a question on bidding.
I was just outbid on an auction. I had a proxy bid in of $10.00 at the end I lost to a winning bid of $10.01. How could that be don't they at least have to beat me by the minimum bid? Which was more than $00.01
posted on October 19, 2001 02:04:49 PM new
no, if, say, the high bid of the person you outbid was $8, then you would have high bid of $8.25 (and max. proxy bid of $10. I can come along and bid $10.01 and it will outbid your $10,but the ebay bidding mechanism only requires them to bid at least $8.50 (one bid increment over your CURRENT high bid, not MAXIMUM proxy bid).
posted on October 19, 2001 02:06:41 PM new
At the time they bid your bid was lower. They put in 10.01 as their proxy, which is higher then your proxy bid of 10.00. The highest bid wins. If they would have put in 10.00 you would have won because yours was there first.
My suggestion is always use some pennies. Me, I use 13 why, who knows!
