Posted By:
Hal LewisIs it "regular bid" or are you referring to a "Straight Bid"??
In most auctions... a STRAIGHT bid will go straight to that amount REGARDLESS of whether anyone else has bid...
while a "Max Bid" will only take you there when someone else bids and drives the price up.
In your example, a Straight Bid of $3,000 will make the price of the item $3,000...
whereas a "Max Bid" of $3,000 will make the price of the item $1,200 until the other people start bidding and drive the price up.
In BOTH cases, you will remain the High Bidder until someone bids $3,100.
BUT, your only chance for a "bargain" and for winning the item for LESS than $3,000 is to use the MAX bid.
The ONLY reason for the straight bid would be to drive the price up immediately to scare off any other bidders.