I keep losing bids. The one today was at $1.55 with 2 hrs to go. I bid $2.25
When I lost, and looked at bids, it said someone bid $2.50 August 4th!
what the ........?????
thanks
Original Post
Cap, that's a good example of a proxy bid at work. The winning bidder put in a bid of at least $2.50 'way back on August 4. Since all of that amount wasn't necessary to keep him as high bidder, the remainder of the $2.50 remained hidden -- a "proxy reserve." When your bid came in eBay automatically dipped into the first guy's proxy reserve and used the amount of it that was necessary to beat your bid. Note that you have no way of knowing how high the proxy actually was, just that it was high enough to overcome your bid.
If your bid was your maximum, the very most you wanted to spend -- well, somebody else was willing to pay more than you were. But if, as I suspect, your bid was less than your maximum, let that be a lesson to you. As a sniper, you only get one bid. Make it for your maximum. Usually you won't wind up spending that much but if you do, you'll be glad you led with your best bid. You're a sniper now -- don't bid like a proxy bidder, a nibble at a time. And feel free to come back here and ask questions, any questions, at any time.
If your bid was your maximum, the very most you wanted to spend -- well, somebody else was willing to pay more than you were. But if, as I suspect, your bid was less than your maximum, let that be a lesson to you. As a sniper, you only get one bid. Make it for your maximum. Usually you won't wind up spending that much but if you do, you'll be glad you led with your best bid. You're a sniper now -- don't bid like a proxy bidder, a nibble at a time. And feel free to come back here and ask questions, any questions, at any time.