Cross posted from a post I did in the CA Boards...
The bidding and everything is pretty straight forward...
With the AutoBid, you put in a low and high ammount. It will stick with that low ammount untill someone tries to out bid you. When someone tried to out bid you it will change your bid to the next incrament above that person's bit up to your high end price.
So you put in a bid of $1.00 and an AutoBid of $20.00, and the incrament is $1.00...
Joe Schmo wants your smokes, he sees that you are a cheapskate and only bid $1.00... He figures they are worth $5.00. He puts in a bid for $5.00 and the autobid bumps your bid to $6.00.
NOW, he gets pissed... He REALLY wants your smokes, he puts in a bid of $7.00 and an autobid of $15.00. Pretty proud of himself till he gets the screen saying you are now bidding $16.00.
Now is when it gets tricky... I am not POSITIVE, but I assume that the first person with a bid wins on that bid...
So, furious and VOWING that you will NEVER inhale a SINGLE one of those smokes, he bids $20.00. Well as I said, your AutoBid was already $20.00 so he STILL doesn't get the smokes.
What typically happens now is that Joe is so Irate that he decides that it will be a cold day in hell before ANYONE ELSE gets those smokes. He bids $100.00 (for a 5 pack) and sets his Auto bid to $500.00. Satisfied to FINALLY see his name in the "Winner's Page"....
Untill he gets the bill that is.
Any questions?