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Difference btw last bid and wining bid

 
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Butux2020
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PostPosted: Fri Oct 06, 2023 12:14 am    Post subject: Difference btw last bid and wining bid Reply with quote

I want to know reason why the gap btw the amount of last bid and the bid i won is. Always more than 1$ or 1 pounds. And I have seen. Some bid that is won by just 1pont or 0.5 in between.
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Joined: 09 Aug 2007
Posts: 7646
Location: Bristol, UK

PostPosted: Fri Oct 06, 2023 4:14 am    Post subject: Reply with quote

On Ebay the highest accepted bid always wins.

However, Ebay also has bid increment rules, whereby they will not accept any bid that is less than one bid increment more than the current auction price and also when your bid is more than one bid increment more than the next highest bid they only make you pay that one bid increment more than their bid.

People often think that these two rules mean that you will always pay one bid increment more than the next highest bidder, however that is not the case you can win by bidding exactly the same as the next highest bidder if your bid is placed first. Alternatively you can win by any amount above the next highest bidder so long as your bid is accepted, so, for instance, the current high bid might be $80, however their underlying bid (that you can't see until it is outbid) might actually be $100, if you bid $100.01 your bid will be winning at the point at which it is accepted, but not a whole bid increment more than the next highest bid.

So in summary it all depends what the two highest bid amounts, that are accepted by Ebay, actually are.

This means it is possible to win at a lower cost if you bid less, however bidding less obviously also makes it less likely that you will actually win the auction.
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