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Question on eBay "Best Offer" and how it works?

GeomanGeoman Posts: 2,491 ✭✭✭
I have recently submitted a "Best Offer" on two separate eBay auctions and both times I immediately get the "Congrats... You have won the auction..." page. So I am guessing that the sellers can set a value where if you bid (offer) above that price, they will sell it. So you don't have to wait for the sellers to consider the offer and reply; instead, it is automatic. Is this a correct assumption?

Another thought I am having, maybe I could have won it for less. I try and offer a price what I think is fair, and both times I have won. For example, the latest coin I offered $310 on. Maybe if I would have offered $300 I still would have won. It has me second guessing at least.

What have been other's experiences with these sort of auctions? Do you ever find out what the lowest the seller would have sold for?

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