Memory lane's Autobid

[Rhotchkiss]

As most of you know, Memory Lane Auction has an "Auto Bid" feature. The way it works -- and I just learned this by reading "what is autobid": "if someone outbids you, the AutoBid acts as your agent and raises your bid to the next acceptable winning bid. "

So, if I autobid several increments up from the current bid, shouldn't I own each increment up to my Autobid limit? For example, if the increments are $10, and the card is currently at $100, and I put in an autobid of $170, shouldn't I own each position between $100 and $170? But this is not how it works. Instead, the guy who bids $110 gets that position (not my autobid) and then I get the $120 spot (because of my autobid). How is it fair that the AH can push me to the second to next increment when I have already, beforehand, said I would take the next increment. Shouldn't I have "dibs" in this case?

Is this normal/how other AH's do things? I do not think Heritage works that way (I think you get dibs).

[Leon]

Nope, you own every other position up to your max. That is the way it is done at most AH's I believe. At least that is the way I remember it. . BTW, most AH's, if not all, will let you put a straight bid in and take any increment you want but that is an actual bid and not an "up to" placeholder.

Originally Posted by Rhotchkiss

As most of you know, Memory Lane Auction has an "Auto Bid" feature. The way it works -- and I just learned this by reading "what is autobid": "if someone outbids you, the AutoBid acts as your agent and raises your bid to the next acceptable winning bid. "

So, if I autobid several increments up from the current bid, shouldn't I own each increment up to my Autobid limit? For example, if the increments are $10, and the card is currently at $100, and I put in an autobid of $170, shouldn't I own each position between $100 and $170? But this is not how it works. Instead, the guy who bids $110 gets that position (not my autobid) and then I get the $120 spot (because of my autobid). How is it fair that the AH can push me to the second to next increment when I have already, beforehand, said I would take the next increment. Shouldn't I have "dibs" in this case?

Is this normal/how other AH's do things? I do not think Heritage works that way (I think you get dibs).

[ubiqty]

That's not how I've seen it done. Memory Lane should fix that.
Scott.

[Rich Falvo]

Isn't that how ebay works, too? If I have the current bid at $10 and a max of $20 and someone comes in and bids $11, then it bids $12 on my behalf, and so on.

[rainier2004]

Hmmm...some lines crossed here.

Leon - You are right for most AHs but ML actually gives you ALL the spots up to your max. This eliminates having to play the game to bid in the appropriate order to get your max. For example, in REA I only got every spot and the bid was at $1200. I wanted to max at $2250, but I could base on the current bid and maxed at $2000...and lost the lot as someone else got $2250.

To the OP, this is how its done at every AH, ebay, live auctions, whatever. If someone else bids then you must top it, not tie if your bid allows. Ties always goes to whoever bid first.

[Leon]

This from their website...(I could have it backwards and each spot might be able to be had so it could be different at ML. but this is what it says)

"An explanation of AutoBid

The AutoBid feature is an optional feature that allows you to place a blanket bid on an item. This way you do not have to be present to raise your bid to the next acceptable bid level should someone else outbid you. If someone outbids you, the AutoBid acts as your agent and raises your bid to the next acceptable winning bid. This will continue until your AutoBid limit is reached. In the event of a tie, the AutoBid is the winning bid. Please note, our company will never know what your AutoBid is or even know that you have placed an AutoBid. The information is completely private to you only."


.

[rainier2004]

Leon - I guess I am missing where that says alternating spots...when I bid in this ML auction I go every spot up to my max and had to recheck it...

[Aquarian Sports Cards]

Originally Posted by Leon

This from their website...(I could have it backwards and each spot might be able to be had so it could be different at ML. but this is what it says)

"An explanation of AutoBid

The AutoBid feature is an optional feature that allows you to place a blanket bid on an item. This way you do not have to be present to raise your bid to the next acceptable bid level should someone else outbid you. If someone outbids you, the AutoBid acts as your agent and raises your bid to the next acceptable winning bid. This will continue until your AutoBid limit is reached. In the event of a tie, the AutoBid is the winning bid. Please note, our company will never know what your AutoBid is or even know that you have placed an AutoBid. The information is completely private to you only."


.

You guys are working too hard here! An autobid is NOT a standing bid it is an agreement to OUTBID someone who OUTBIDS the current bid. So if you are at $100 with an auto bid to $170 the next person who bids is the new top bidder at $110, THEN your auto bid kicks in and bids $120. Think of it as an automated version of you watching the auction and placing a bid every time you are outbid. This is how every auction house I have ever bid with does it. Ties only come into play if your TOP autobid and the top bid otherwise are exactly the same, then the autobid is counted as having been placed first.