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First bid advantage

 
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Sumflow
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PostPosted: Tue Nov 08, 2011 12:31 pm    Post subject: First bid advantage Reply with quote

Dodgy Geezer came up with an important tip. The first bid not only has the advantage of time, but it must be beat out by the minimum bid increment in order to win. So when you place your snipe earlier they need your "price plus minimum," to beat you out.
Dodgy Geezer wrote:
Your bid has to be higher than the current price by a set margin. If it is just a small bit higher it will be rejected.
What this means is that you can have a higher price and still lose unless you get there first.
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Cupid



Joined: 09 Aug 2007
Posts: 5689
Location: Bristol, UK

PostPosted: Tue Nov 08, 2011 1:38 pm    Post subject: Reply with quote

Yes, biding first is an advantage.

Please note however that the bid increment is based on the current auction price, not on the current high bid. So, if the auction price is less than your maximum bid after that bid has been placed it is still possible for you to lose by less than one bid increment.
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Sumflow
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PostPosted: Wed Nov 09, 2011 8:14 pm    Post subject: Winning bid Reply with quote

A winning bidders maximum bid needs only to exceed the next highest bid by one cent.
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mario
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Joined: 03 Oct 2006
Posts: 6287

PostPosted: Wed Nov 09, 2011 8:59 pm    Post subject: Reply with quote

But it has to exceed the current price (if there are some previous bids) by a full increment.
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Sumflow
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PostPosted: Thu Nov 10, 2011 11:00 pm    Post subject: Incremental bids Reply with quote

Yeah its like Cupid said:
Cupid wrote:
..the bid increment is based on the current auction price..
..not on the hidden high bid. A winning bidders maximum bid must exceed the current auction price by a full increment, but it only needs to beat the first losers highest bid by one cent to win.

As far as a time advantage goes, as long as you have the maximum accepted bid, it does not matter when you place it. But when two bids are the same price, or the later bids fail to exceed the first bid by a full increment, the first bid wins.
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Sumflow
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PostPosted: Thu Nov 10, 2011 11:00 pm    Post subject: Incremental bids Reply with quote

Yeah its like Cupid said:
Cupid wrote:
..the bid increment is based on the current auction price..
..not on the hidden high bid. A winning bidders maximum bid must exceed the current auction price by a full increment, but it only needs to beat the first losers highest bid by one cent to win.

As far as a time advantage goes, as long as you have the maximum accepted bid, it does not matter when you place it. But when two bids are the same price, or the later bids fail to exceed the first bid by a full increment, the first bid wins.
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