Grand Slam Bids question

[Matt]

Greg - the item you were bidding on had a reserve of $340. The bidding process worked exactly as it would have on eBay - you won it for the reserve price, even though your ceiling bid was higher.

For a reserved item is live, the status of the reserve is displayed next to the "Current Bid" line in the listing. It is red until the reserve is met and then changes to green once the reserve is met.
http://www.grandslambids.com/auction...tion_id=100514

[M's_Fan]

^ Okay, I thought eBay would put you at only above the next highest bid, I didn't know that it would work this way, where you would end up at the reserve even if nobody else bid near there. Guess I don't know much about eBay. Its a good rule I think, otherwise you wouldn't win items just because someone else didn't bid.