Posted By:
halleygatorHere is the answer, and it makes some sense:
Let's say that I suspect the reserve for a certain card is $200 ... and I do not want to pay $200 for the card.
BUT ... I am willing to be the highest bidder on the card and pay whatever price the market dictates ... as long as it is NOT $200 or more.
If I bid $199.99 ... then there is no way that I can be legally forced under EBay rules to pay $200 for the card.
And, the odds are pretty good that I will NOT have to pay $199.99 for the card. I will only have to pay $1 more than whatever the LAST bidder bid. (**This is all ASSUMING that the seller will NOT re-list the card but will call the highest bidder and offer to sell it. This happens a lot.)
In other words, the guy DEFINITELY does not want to pay $200 for the card ... and he really does not want to pay $199 for the card but will do so in the worst case scenario.
If he had bid $.01 more ... he would have been forced to pay $200 by meeting the reserve.
ON THE FLIP SIDE -- sellers set stupid high reserves just to see how high the bidding will go -- then call the highest bidder and try to sell the card for that price. I would NEVER buy a card in this manner because you have no Ebay protection (for what that is worth) ... and because it is prime breeding ground for "shill" bidders because they can drive up the price WITHOUT having to buy the card.