Re: [T3] Shitty deal ... trying to figure it out

["Jim Adney" <jadney@vwtype3.org>]

On 20 Jan 2002, at 3:02, DGaries808@aol.com wrote:

>  When I logged on, the maximum bid was 4.99 with a .50 increment. So, I bid
>  $5.24 and the system automatically outbid me.So, i tried $5.74 and the same
>  thing happened. I bid $6.24 and the same thing happened. Finally, I bid $25 and
>  got the high bid. Where did I go wrong? Or did I go wrong?

What you couldn't see was what the other guy's proxy bid already was. 
Under the proxy bid system he has given eBay permission to bid on his 
behalf up to some number which he specified. That's exactly what you did 
also. Once one bidder's proxy reaches its limit, the other guy wins.  

I don't know what the current price is now, but is exactly one bid increment 
above the # 2 bidder's max. If someone else come in and bids above your 
proxy limit then he will be the leader, but at this point he can't see your limit, 
only the current price.  

Note also that the bid increment increases as the price goes up. This is 
reasonable.  

-
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Jim Adney, jadney@vwtype3.org
Madison, Wisconsin, USA
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