Memory lane's Autobid

[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."


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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.

[Snapolit1]

I guess I wasn't the only one who didn't grasp that. Probably doesn't matter at the end of the day, but not what I thought the process was. I could, of course, carefully read auction rules but life is short.

[Sean]

Originally Posted by Aquarian Sports Cards

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.

Best explanation I've seen.

[RedsFan1941]

certainly not rocket science

[Aquarian Sports Cards]

Originally Posted by Sean

Best explanation I've seen.

10 weeks of auctioneer school paid off lol.