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Old 06-07-2007, 04:34 PM
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Default Mastro & Other auctions..why the 10% bid increments??

Posted By: Zinn

Current bid is $1,000. With vig $1,200.

Raise bid 10% to $1,100. With vig $1,320. Difference is $120.

Ergo that $100 increase, i.e. 10% was really 12%, i.e. $120.

I don't see how one cannot say that it is not 12%.

If not, what is it?

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