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So I start my auction out at $0.01 and someone bids...

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Originally posted by: b0mbrman
Originally posted by: simms
That's why you never pay extra for BIN.
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It makes sense with a higher minimum bid...

I used to have several auctions starting at $20 with a buy-it-now price of $35. The ones that started at $20 usually ended around $30, but people often took the buy-it-now option as well.
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Yeah, I forgot that once someone bid buy it now disappeared. Oh well.
 
When he originally had two bids, the first bidder had .05 as his max proxy bid because the second bidder was winning at .06. At that level of bidding, the bid increments are .01, so the second bidder had to bid exactly .01 higher than the max bid the first one put in as proxy to be current high bidder, which in this case was .05. Now, there's no telling what the second bidder's max proxy bid is, jsut what his current is..... six cents.

Of course, if someone will come in and bid .26, you may see the second bidder drop out....bet he's in for around a dime or a quarter.
 
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