Cheno wrote:It's because you bid that amount first, that's why you are winning.
That seems very counter intuitive. From a business perspective at least.
So no one can really place a bid, at all, unless it's more than my max bid, any attempted bid that's below my max will just raise my bid to match the attempted bid?
So I'm not actually outbidding anyone, unless they go over my max, and then I choose to bid again.
I've effectively placed a "bid", in this case $7/stick, that I wont actually have to pay, unless someone matches my max. In a normal auction I would have to beat other bids in order to win, not just match them up to a max bid. In this case my $5 bid would be beaten by a $6 bid and I would have to exceed that bid ($7) in order to win.
Imagine that in the context of a silent auction? My silent bid was the highest, but i only have to pay the amount that was bid by the next highest bidder.
It saves me money, so I'm not complaining, but you have to admit it's a little weird.