Quote:
Originally Posted by Vets Dottir 2nd
Hi Folks,
I browse epay sometimes.. was hoping someone could explain.
1) Frequently I see repeated same bidder outbidding self  : Is this maybe a problem with people being impatient thinking their post didn't take and they keep hitting the submit and unintentionally ending up outbidding themselves? Or is it a seller trying to jack up the bids?
Thanks  |
This tends to happen a bit where the SELLER has set a reserve, for hypothetical sakes, we'll say $100. A tentative buyer comes along and sees an item with a starting price of $10 (reserve not met). He bids $10, but doesn't meet the reserve. He tries $20, but still no luck. What the heck, bid $50, but still doesn't meet the reserve. At that point , he decides that the item is not for him and goes elsewhere. The item is still at $50, but that buyer is not winning as the seller has chosen a reserve price which must be met before the item will sell.
