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Because counter-bidding does not exist on eBay. eBay uses a second-price auction system. Each bidder is allowed only a single bid, which reflects the absolute
by thescriptkiddie 10y ago
Because counter-bidding does not exist on eBay.
eBay uses a second-price auction system. Each bidder is allowed only a single bid, which reflects the absolute maximum that they are willing to pay. The highest bidder wins the auction, but only pays as much as the second highest bid. The value of the actual highest bid is kept secret, so the "current bid" displayed on the site is actually the second highest. If you try to win an auction by outbidding the "current bid" by 1 cent at the last second, you will succeed only in becoming the second highest bidder and pushing the price that the actual highest bidder has to pay up by 1 cent.
- ac29 10y ago>Each bidder is allowed only a single bid Its been a while since I bid in an eBay auction, but this is or was definitely not the case. If you were outbid, you could bid more.
- grkvlt 10y agoWell, technically you are just changing the amount of your existing bid. This is not really a useful distinction for eBay on its own, but is when looking at other auctions where number of bids has an effect on the result.