Here is an example of how max bidding works. This can be a time-saver that virtually eliminates the need to check back regularly on an auction, and manually increase your bid each time you are outbid.
- You would like to bid up to $50.00 on an item that is currently bid at $15.00.
- For this particular item, the pre-defined bid increments are set at $5.00 (different for each item)
- You enter your bid of $50.00 (your max bid)
- You are now winning the auction with a $20.00 bid ($15.00 current bid + $5.00 bid placed automatically for you).
- Another bidder enters a max bid of $40.00 for the item
- The auction system then bids you and the other bidder up to $45.00 by $5.00 increments
- If nothing else happens in the auction, you win the item at $45.00 ($40.00 bid from other bidder + $5.00 increment bid from you), even though your maximum bid was $50.00
Please email email@example.com if you have questions about this process.