Hake's Auction

[Exhibitman]

Phil is right; I've noted that trend too on some items. IMO, a source of it is that with 10% incremental bidding plus a BP you can play "king of the mountain" at certain price points that you think may be sticking points for other bidders. I know I will sometimes calculate the closest bid to my maximum price on an item and then occupy that price level early in the auction with my max bid. That way I need not worry about making that last incremental bid because I know that the bid that tops me is going to put the item well outside my price range were I to make a responsive bid [a 10% increment plus 15% BP is an 11.5% price raise. To top that I'd have to be willing to pay nearly 25% over my top bid, and it is rare that I would be willing to do that]. If two bidders apply a similar strategy, prices can rise very fast.

And yes, I do need to get out more...