Ebay question on retraction

[CorCentral]

Example:
$50.00 item

1... Item currently has 1 bid on it at $50.00 by Joe Shmo
2... I bid $60.00 and still am outbid, item jumps to $61.00 because of $1. incremental setting. Joe still has High Bid.
2... If Joe retracts, am I obligated to purchase for $60.00 ?


Thanks

 

[rh71]

I asked this same thing and was told by ATOT - no I'm not obligated.

 

[Ricemarine]

Originally posted by: rh71
I asked this same thing and was told by ATOT - no I'm not obligated.

Hmm.
ask the ebay forum people.
They'll say you will have to rofl.

 

[CorCentral]

Anybody else have an experience like this or want to weigh in on the subject?

 

[Evadman]

why didn't you serch on the help section on Ebay? It's therefor a reason you know. If he retracts, you are not forced into the purchase.

 

[ThisIsMatt]

No, it will drop down to where you're 1 increment above the previous bidder's high bid.

Bob bid $25.
Joe bid $70.
You bid $60 so Joe is still high bidder at $61:
Joe retracts bid.
High bid drops to $26.


Edit: this was done for scamming purposes early in ebay history (3 bidders go at it in colusion, first bidding really low, second two have a war to bid it way up, then those two retract at the last minute to drop the price all the way back down to the first bidder's low bid. This has been fixed by making it so you cannot retract your bid when it gets within X number of hours from the end of the auction...I think it's 12 hours, but I'm not sure.

 

[Vette73]

Originally posted by: Ricemarine

Originally posted by: rh71
I asked this same thing and was told by ATOT - no I'm not obligated.

Hmm.
ask the ebay forum people.
They'll say you will have to rofl.

Yep this came up before. You will be the high bidder and have to pay.

 

[ThisIsMatt]

Originally posted by: Marlin1975

Originally posted by: Ricemarine

Originally posted by: rh71
I asked this same thing and was told by ATOT - no I'm not obligated.

Hmm.
ask the ebay forum people.
They'll say you will have to rofl.

Yep this came up before. You will be the high bidder and have to pay.

But your high bid won't be $60, it will drop to one increment above any other's high bid that was beat by you/Joe.

 

[dartworth]

Originally posted by: ThisIsMatt

But your high bid won't be $60, it will drop to one increment above any other's high bid that was beat by you/Joe.