I'm hoping someone can help me understand the bidding priorities at cbid. Hopefully thinking out loud like this can help me catch some simple explanation that I missed.
I'm currently bidding on an item, starting bid $44.95. I bid that amount, with an autobid up to $47.95. Once all 125 units are bid on, new bids will have to be higher than everyone's original $44.95. So the early birds should get to keep their low bids the longest right? If someone comes along and bids higher, then the last person to get it at a lower bid will either have to bid higher or get booted?
So what I don't understand is that there are folks who just simply bid $44.95 with no autobid to a higher amount. And some of those folks bid hours or even a day later than I did, however since I used the autobid feature, I'm bumped up to paying $47 instead of those folks getting bumped off the list to make room for someone new at the $47 price.
Does this not make sense to anyone else? Or do I just fail to understand some simple principle of auctions? The way I see it, I was there first, so instead of bumping me up to $47, they should keep me at $44 and just bump someone off who only bid $44 max. Under this program, if I had not used autobid, then I could in theory get this for $44.
I'm currently bidding on an item, starting bid $44.95. I bid that amount, with an autobid up to $47.95. Once all 125 units are bid on, new bids will have to be higher than everyone's original $44.95. So the early birds should get to keep their low bids the longest right? If someone comes along and bids higher, then the last person to get it at a lower bid will either have to bid higher or get booted?
So what I don't understand is that there are folks who just simply bid $44.95 with no autobid to a higher amount. And some of those folks bid hours or even a day later than I did, however since I used the autobid feature, I'm bumped up to paying $47 instead of those folks getting bumped off the list to make room for someone new at the $47 price.
Does this not make sense to anyone else? Or do I just fail to understand some simple principle of auctions? The way I see it, I was there first, so instead of bumping me up to $47, they should keep me at $44 and just bump someone off who only bid $44 max. Under this program, if I had not used autobid, then I could in theory get this for $44.
