This is still new to me. So this may be a stupid question. If I put a snipe in for $100.00, and the the next highest bid was $70.00, do I win the item and pay the $100.00 that I sniped?
Thanks,
RSK

No, you would pay the next increment just like when you put in a proxy, except with a snipe it is a one shot deal!

No, if bidder A bids $70, and bidder B bids $100, then bidder B will win for $71. When two bids are placed, eBay automatically raises them one increment at a time until it uses up the lower bid. Then the higher one wins, for *no more than* one increment (or less) over the lower one.

But keep in mind that if the high bid showing is $70, the winning bidder may still have some money left in their hidden proxy. Let's say A bid $70 and B bid $100, then B is currently winning for $71. Then C comes along and bids $80. B will still have the high bid, for $81.

Got it?

Thanks for the answers. I thought that was the case, but I wanted to make sure.

RSK

You are very welcome and, please, come back and post with us often!