Search

Bid Versus Max Bid, What's The Difference?

How does the bid entry work? Why am I only asked for my max bid?


The Auction Ninja system uses 'bid' and 'max bid' interchangeably.


If you want to test the waters with a one-time bid that is a dollar more than the current bid, enter that as your 'max bid.'


If you have your heart set on an item and want to be sure that you win, go big with your 'max bid,' especially because the system will only increase your actual bid as needed when another, higher, bid is placed.


If you place a bid and there are no competing or higher bids against your bid, the system WILL NOT immediately go to your maximum bid.


In fact, if you are the only bidder by the time the lot closes, you will win the lot for the lowest possible dollar amount (based on whatever the opening bid was for that item), not your max bid. So if you place a max bid of $25 on a lot with an opening bid of $1 and there are no other bidders vying for that lot, you will win it for $1. NOTE: This only happens when there are no competing bids. Because all maximum bids are "masked" (hidden from other bidders), you do not know what any other bidder's maximum bid may be or when they placed it.


Sometimes you will be outbid as soon as you enter your bid. This only occurs when another bidder had a higher maximum bid than yours already "on the board". Your bid set in motion BRG's automatic bidding system which raised the other buyer's bid above yours. The other bidder may have placed their max bid days, hours, or mere moments before you placed yours.


If you have more questions about bidding you can find additional information in the Auction Ninja terms or you can call them at 203-900-4000.


Stay more tuned for more info about how you can get amazing deals on amazing stuff when you buy from White Goose on AuctionNinja.com!


#estatesales #auctionninja #WhiteGoose #cleanout #bestcompanyinthehamptons

15 views0 comments