Auction format - bidding question

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Posted By: Hal Lewis

Is it "regular bid" or are you referring to a "Straight Bid"??

In most auctions... a STRAIGHT bid will go straight to that amount REGARDLESS of whether anyone else has bid...

while a "Max Bid" will only take you there when someone else bids and drives the price up.

In your example, a Straight Bid of $3,000 will make the price of the item $3,000...

whereas a "Max Bid" of $3,000 will make the price of the item $1,200 until the other people start bidding and drive the price up.

In BOTH cases, you will remain the High Bidder until someone bids $3,100.

BUT, your only chance for a "bargain" and for winning the item for LESS than $3,000 is to use the MAX bid.

The ONLY reason for the straight bid would be to drive the price up immediately to scare off any other bidders.