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Won by one cent

 
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PostPosted: Fri Jan 18, 2008 12:16 pm    Post subject: Won by one cent Reply with quote

310014603399

This is the auction. 26.27 was my gixen number. I am pleased to win at this price but it is less than one dollar more than the previous bid. I believe the increment is one dollar at this price.

How did this work?

Gixen runs very smooth.
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PostPosted: Fri Jan 18, 2008 12:16 pm    Post subject: Won by one cent

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Cupid



Joined: 09 Aug 2007
Posts: 5615
Location: Bristol, UK

PostPosted: Fri Jan 18, 2008 1:36 pm    Post subject: Reply with quote

When your bid was placed the auction price was $23 (I think) that is jwalkersmtx's bid of $22 plus one increment... at that point the eBay increment applied to that price so $24 was the minimum bid that would be accepted and not to thendmusic1's actual maximum bid of $26.26 which only became fully visible after your bid had been placed... in this way it is possible to win by only 1 cent as you did... congratulations on your win.
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PostPosted: Sat Jan 19, 2008 1:38 pm    Post subject: Reply with quote

When I entered my proxy bid through gixen the minimum bid that could be placed was 23 (22.50 plus.50). My proxy bid was 26.27. Thendmus**'s background proxy bid was 26.26. I believe that the key is the increment only applies to a bid being accepted. Once both proxy bids are accepted the minimal increment does not apply.

I just said what Cupid said over again. Thanks.

I also wonder if my proxy bid was 27.26, would ebay have bumped it the full dollar increment? Would my winning bid have gone to 27.26?
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Cupid



Joined: 09 Aug 2007
Posts: 5615
Location: Bristol, UK

PostPosted: Sat Jan 19, 2008 2:14 pm    Post subject: Reply with quote

Anonymous wrote:
I also wonder if my proxy bid was 27.26, would ebay have bumped it the full dollar increment? Would my winning bid have gone to 27.26?


Correct,

eBay would have used that element of your proxy as you suggest, up to 1 increment above the next highest bidder... so you would have had to pay up to 27.26 if you had bid 27.26 or higher... you saved nearly a dollar by bidding lower than that.
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