Understanding an eBay auction

DezHood

I lost the auction by less than one dollar even though I had the earlier bid - at first I thought it's impossible because there are minimum bid increments. But, it is true when I put my bid in, I was winning with a price showing in the 90s, so maybe he came in and sniped exactly 116 so wasn't forced to outbid me by an increment? In theory, he could have bid 115.30 and won?

Thanks

l***b( 403) US $116.00 Jul-08-14 19:57:57 PDT

Me( 75) US $115.29 Jul-08-14 19:54:31 PDT

grote15

<< <i>I lost the auction by less than one dollar even though I had the earlier bid - at first I thought it's impossible because there are minimum bid increments. But, it is true when I put my bid in, I was winning with a price showing in the 90s, so maybe he came in and sniped exactly 116 so wasn't forced to outbid me by an increment? In theory, he could have bid 115.30 and won?

Thanks

l***b( 403) US $116.00 Jul-08-14 19:57:57 PDT

Me( 75) US $115.29 Jul-08-14 19:54:31 PDT >>



In theory, he could have bid 115.30 and won?


Exactly. As long as the former bid was one full increment below your high bid, any bid by him at least 1 cent higher than yours would win the auction. In this case, you KNOW his high bid was $116.00. Had he bid at least $117.79, you would not sure of that, as the winning bid would only be one full increment above your high bid, but in this case you do know that $116.00 was his high bid/snipe.

DezHood

Thanks for the reply. I appreciate it. I'm pretty sure this has happened to me before, but I never thought it all the way through.

I basically asked to lose this one. I took the lead from a frequent bidder really late, but with enough time to give him a heads up there was competition.