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New to AS

Hello I am new to As, my question is when there is an opening bid of $499, and there is no RESERVE, why wouldn't I just bid let's say 5000, if I understand ebay's rules wouldn't I only pay the amount at the closing of the auction, another Words if the auction closed that $750 and I bid the 5000 wouldn't I win the auction at $750, so wouldn't it make sense to bit Super High. Thank you R.I. 5000.
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