Quote:
Originally Posted by G1911
That’s exactly what it is, and why it’s kept separate by most of them. Otherwise it would just be your bid and they take X% as their commission as arranged with the seller. It’s not hard to calculate in and lower your bid accordingly, but surely many people don’t and they’ve learned more money is made this way than the other, straightforward way.
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A mechanism instilled to lower bids is so counterintuitive to the auction process and yet it's accepted without question.