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I'm wathingthis auction and when I first see it the bid is $1.00 then I come back 10 hours later and the bid is $13.05 (by the same seller that mad the $1 bid and there are two bids. image


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Comments

  • Proxy bidding.

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  • OK I feel stupid now. Whats proxy biding?


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  • Conder101Conder101 Posts: 10,536
    Proxy bidding is where you enter a maximum bid and the auction companies computer bids on your behalf up to the amount of your maximum bid in case someone tries to out bid you. For example in the auction you mention it went like this.

    Auction goes active and has no bids.
    First bidder (pittsfield2) bids say $45.05 at 7:45 on the 13th. Since the opening level is one dollar and there no other bids the high bid shows as $1 with 1 bid

    Second bidder (wmaxwell10) sees high bid of $1, like it and bids $12.55 at 10:01 on the 13th. This is less than the first bidders maximum so the computer sets the bid at one increment higher on the pittsfield2's behalf. High bid now shows as $13.05 with 2 bids. (The pittfiled2's proxy and wmaxwell10's bid.) Pittfield2 is still high bidder.

    At 19:38 on the 13th maxmiloduo placed a bid (can't tell what it was) but it still didn't beat Pittsfield2's bid so the high bid was now one increment above maxmiloduo's bid, Pittsfield2 was high bidder and there were 3 bids.

    At 21:33 aksneart70659 bid but also didn't beat pittsfield2 max bid. High bidder shows as pittsfiled2 and 4 bids.

    aksneart70659 immediately bids again and at 21:34 beat pittsfields maximum proxy bid and becomes high bidder at $45.55 with 5 bids showing. (aksneart70659 may have bid well more than this, in which case the computer will execute bids on his behalf if someone tries to out bid him.)
  • ziggy29ziggy29 Posts: 18,668 ✭✭✭


    << <i>aksneart70659 immediately bids again and at 21:34 beat pittsfields maximum proxy bid and becomes high bidder at $45.55 with 5 bids showing. (aksneart70659 may have bid well more than this, in which case the computer will execute bids on his behalf if someone tries to out bid him.) >>

    And given that aksneart70659 has zero feedback, the seller is certainly hoping someone DOES outbid him.

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