|
|
Posted by Ken Dunnington on Monday, August 10, 2009 at 10:30:11 :
In Reply to: Re: 1952 Dodge Power Wagon (make an offer) [NV] posted by Paul (in NY) on Friday, August 07, 2009 at 14:25:05 :
Ebay auction selling prices are determined by the second highest bidder not the highest.
The only time the highest bidder sets the price is if their bid is the highest and is less than or equal to the bid increment, which doesn't happen often. The highest bidder may have bid thousands of dollars or more than what they end up paying because the proxy bidding system will only increment their bid up to cover the second highest bid plus the increment amount. Thus, it is the second highest bid that determines the selling price, not the highest bid.
Ken