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-   -   Bidding? (http://forums.thecmp.org/showthread.php?t=266650)

Ted Brown 07-25-2020 01:43 PM

Bidding?
 
Why is it that when I place a bid higher than the previous bid shown, that my bid , after being tagged as below the high bid, is my too low bid shown on the item? Why isn't the actual high bid being shown so we know what has to be beat?

Are we supposed to take a WAG at what the actual high bid is?

canes7 07-25-2020 02:27 PM

What fun would that be? Besides someone is going to have a few too many and have to find out, driving the price up.

Mark1 07-25-2020 04:37 PM

The current bidder lets say placed a bid of $500. The system will show that the opening bid is $1.00. Now you place a bid of 150.00. You are not the high bidder as there was a higher bid of 151.00. The first bidder still has a high bid of 500.00. This is how all on line bidding sights work. In lieu of sitting there every day all day long and bid incrementally, The bidder places a bid and that is it.

I do this also. I have a max and place the bid. If I am out bid than so be it.

TLB 07-25-2020 08:01 PM

It is called proxy bidding and is quite different than "straight" bidding in a live auction. Proxy bidding occurs when bidders have the option to set a maximum price that they would be willing to pay for an item and then allow the computer system to bid for them by the bid increment until someone places a higher bid than their maximum.
The bid increment is pre-set by the auction and is the amount that a proxy bid must increase by. The computer will place a new bid following the bid increment every time someone else places a higher bid than you and will continue to do that until the auction is over and you win, or the price goes over your set maximum. Most online auction systems are set this way; it essentially allows a bidder to tell the computer to let them win the auction at the lowest amount possible price without going higher than their maximum. And this maximum is between the bidder and the computer system--it is not shared with other bidders.

letterman 07-27-2020 10:15 PM

I thought that if I bid 100.00 in max and someone puts in 101.00 the computer will bid 1.00 until it reaches 101.00. And that would take a matter of seconds. Then I would have to put another higher bid in.

Ohio Don 07-28-2020 06:06 PM

Quote:

Originally Posted by letterman (Post 1957897)
I thought that if I bid 100.00 in max and someone puts in 101.00 the computer will bid 1.00 until it reaches 101.00. And that would take a matter of seconds. Then I would have to put another higher bid in.

It does it by the highest amount that has been bid above what the next highest is. In most cases, if you bid $100.00 it will go to $101.00. But you can also have someone who doesn't bid in strictly even dollars so if you bid $100.00 and the bid $100.01, it only goes up by the 1 cent above your bid because they bid before you did. The only bidding where it shows what you bid is if you are below a minimum set by the CMP. If it is a 1911 you are bidding on, it will follow that rule until it reaches the minimum that the CMP put on it. After that point, it goes up by $1.00 or their bid increment setting or to the highest bid above the next highest. So if you see a bid of $1000 on the 1911s it has not met the minimum and is the max bid that has been placed. If you see a $2000.00 bid that means that someone bid $1999.00 to $2000 and another person bid $2000.


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