Posted by Lew on March 19, 2001 at 10:52:21:
In Reply to: Re: Re: Re: Re: Re: King Sousaphone my father gave me posted by Joe Baker on March 19, 2001 at 10:32:21:
Joe, you are correct. If, as Gus describes, 9 people bid $2900, the price would go to $2900 and the first person to bid that amount would be listed as the high bidder, even if the reserve is not met. For example, say one person bids $2900, but the starting price was $1 and the reserve was not met. The price would then be at $1. If a second person bid $1000, the price would go to $1025, which is the second person's bid plus the bid increment for items in the $1000 price range. If another person comes along and bids $2900 the price would go up to $2900, but the first bidder would still be listed as the high bidder because he bid it first.
eBay has set bid incerments depending on the current bid price of an item. So, if you put an item up for auction with a very high reserve, the final price reached would be the second highest bid plus the bid increment in that price range.
Lew (too many hours spent on eBay)