Bidding overview


The bidding system is much the same as eBay, but in case you’re completely new to the process, here’s some info that might be of help.

incremental bidding

If you’re familiar with the likes of eBay, it’s suggested the best method in which to proceed with the bidding process, is to add the maximum bid you’re willing to pay for the item; of course you could well pay less as I’ll explain.

When you’re outbid, the system bids automatically on your behalf up to the maximum bid you have entered. Your bid is increased by increments only as much as necessary to maintain your high bid position.

Automatic bidding (max bidding)

This automatic bidding  (also called max bidding) system makes bidding convenient so you don’t have to keep coming back to re-bid every time someone places another bid.

How it works –

  • When you place a bid, you enter the maximum amount you’re willing to pay for the item. The seller and other bidders don’t know your maximum bid.

  • Bids are placed on your behalf using the automatic bid increment amount, which is based on the current high bid.

  • Your bid is then increased only as much as necessary to make sure that you remain the high bidder, or to meet the reserve price, up to your maximum amount. If another bidder places the same maximum bid or higher, you’ll be notified so you can place another bid. Your maximum bid is kept confidential until it is exceeded by another bidder.

 

 

Here’s an example –

  1. The current bid for an item is £10.00. Zee is the high bidder, and has placed a maximum bid of £12.00 on the item. His maximum bid is kept confidential from other members.
  2. Polly views the item and places a maximum bid of £15.00. Polly becomes the high bidder.
  3. Zee’s bid is raised to his maximum of £12.00. Polly’s bid is now £12.50.
  4. Zee gets an email notifying him that he has been outbid. If he doesn’t raise his maximum bid, Polly wins the item.

If you have any further questions please get in touch.