posted on January 31, 2004 06:43:39 AM new
How does bidding on a reserve auction work?
The item's minimium opening bid is 1.00. I bid 10.00. My bid was recorded at 1.00 rather than 10.00.
Why doesn't the entire bid amount get recorded toward the reserve price if my max bid of 10.00 is still under it?
I bid a second time. I bid 10.50. The auction bid still shows 1.00 and 2 bids, reserve not met. I realize in this case eBay is accepting my higher bid as proxy and did not increase the bid amount on the auction.
I appreciate sellers putting their opening bid price at the minimum amount they will sell the item rather than set a ridiculously low opening amount and use a reserve price.
I am confused by eBay's bidding acceptance/recording towards these reserve price auctions.
posted on January 31, 2004 06:50:22 AM new
The reserve on that auction is probably higher than $10.00 so your bid will only be the next increment past the $1.00. If the reserve would have been $9.50 then your $10.00 bid would have shown. Your ten dollar bid is still in there and when someone else comes in and bids they either have to bid over your $10.00 and if they don't then your $10.00 will cover their bid and you will still be the high bidder. The reason your new bid didn't show is because now your high bid is $10.50 and since your are the same bidder you can't raise your own bid. I hope this makes sense
posted on January 31, 2004 08:11:09 AM new
...Why doesn't the entire 10.00 amount get credited toward the reserve price? ...
Because it doesn't make any difference whether you fell short of the reserve by twenty dollars or two cents. As far as eBay is concerned, you are the only bidder, and they will not let you bid against yourself.
posted on January 31, 2004 08:39:51 AM new
I think that you can bid against yourself in a way. If you bid a second time when no other bidders are present ebay lets you raise your proxy and counts it as a bid. That's why you see two bids so often on auctions where there's only one bidder.
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posted on January 31, 2004 09:54:04 AM new
Ace, I have seen this done on several occasions. You will see there have been 2 bids & it was the same bidder for both bids.
