How exactly does a maximum bid work on eBay?

Discussion in 'Buying Tips and Advice' started by omgwut, Aug 17, 2006.

  1. macrumors 6502

    omgwut

    Joined:
    Jul 28, 2006
    #1
    First off, I really apologize, since I don't think that this question really warrants its own threat, but I needed to know, and the eBay FAQ really didn't elaborate.

    When you enter a maximum bid amount on an eBay auction, will that instantly jump the current bid up to that amount like a regular bid? Or is it more like an automatic safeguard, where each time another person places a bid, the system will automatically bid for you again to keep you on top as long as it stays below the max amount you set? Is there also a way to raise your maximum bid in the event that the price goes over the one you set?

    Thanks!
     
  2. Administrator/Editor

    WildCowboy

    Staff Member

    Joined:
    Jan 20, 2005
    #2
  3. thread starter macrumors 6502

    omgwut

    Joined:
    Jul 28, 2006
    #3
    So let's assume that the item in question had a few more minutes to go. I place my maximum amount at $1200. Someone bids $900 just before the auction ends, but the system outbids him for me with a minimum at $910. I win.

    Does this mean that I pay $910 to the seller, or do I have to pay my maximum bid if I win?
     
  4. Administrator/Editor

    WildCowboy

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  5. thread starter macrumors 6502

    omgwut

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    Jul 28, 2006
    #5
    And after I place a maximum bid, can I revise it or place a new one if mine is outbid?

    Thanks!
     
  6. macrumors 68040

    tobefirst

    Joined:
    Jan 24, 2005
    Location:
    St. Louis, MO
    #6
    Yes, you can rebid if you've been outbid. Works the same way your first bid did.
     
  7. thread starter macrumors 6502

    omgwut

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    Jul 28, 2006
  8. macrumors 68040

    MovieCutter

    Joined:
    May 3, 2005
    Location:
    Washington, DC
    #8
    Just be careful not to put in something outrageous like $20,000 so you ensure yourself a win, because if some other bozo bids $20,000, guess what. But those kind of bids are never taken seriously anyway, and you can usually cancel the bid immediately after you make it.
     
  9. thread starter macrumors 6502

    omgwut

    Joined:
    Jul 28, 2006
    #9
    How do you cancel a bid? Is there a button?
     
  10. Administrator/Editor

    WildCowboy

    Staff Member

    Joined:
    Jan 20, 2005
    #10
    Follow the bid retraction process...note that it should only be used in "exceptional circumstances."
     

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