How is it that the voluntary price of a lot can be higher than the initial offering price when an item has more quantities available than the number of people biding on it and the number of items they each want? This is tobacco in these things right?
For example, let's consider the following hypothetical option: 325 Available Quantity, starting bid 19.95. 162 people bid on the item and there are only 43 total additional quantities (people bidding on more than one). A total of 205 out of 325 items would then be spoken for, with only 120 or slightly more than 1/3rd still available. (read: Hurry up good stuff is almost gone!) Now let's take 5 bidders in a time sequence of bids each bidding on one of a surplus quantity (a-e) a: opens w/ 19.95 b: bids one bid increment high at 20.95 with no autobid, c bid's 19;95 d bids 20.95 AND has autobid on, e bids 19.95. What's up with b an d's bids being a buck higher?
I mean it would be cool to be able to bid cigars to charities or something like that..even CI/CB employee tip bids. Is there some incentive program I haven't seen? I'm wondering if someone's cat or kid got to their keyboard. What's going on w/ the crazy biding?