Code Cracked on Hidden Reserves- Iconic Auctions

[bnorth]

Originally Posted by Rhotchkiss

Thanks Lee (who is an auction house owner). But how does a max bid impact the amount of bids? I understand it could impact the number of bidders, but when one puts in a max bid, isn’t their an actual bid placed at each increment up to the max bid?

For example, the opening bid is $100 and there are $20 increments (up to $200). I place the first bid and put in a max bid of $200. I take the high bid spot- first bid. Lee bids $120 and then is outbid by my max bid but only at the $140 increment - bids two and three. Lee bids $160 and is immediately outbid by my $200 max bid, which takes the $180 bid increment - bids four and five. Lee bids again and (I guess) is outbid by my $200 max bid- bid six.

So, two bidders but 6 bids have been placed notwithstanding my initial $200 max bid. No?

I have never bid with them. Do they also have a straight bid option? If so that changes the bidding pattern you describe. I know I have used a straight bid to change the bids so the increments went to a pattern I wanted for late bidding.