Ebay Maximum Bid Sniping?

Question

I have a question about placing your max bid at the very last few seconds of an auction. I know that Ebay automatically bids for the highest bidder. I put $100 at the beginning of the auction as my max bid. If the price of an item starts at $40 and someone puts $42, Ebay bids on my behalf raising it by a minimum of $2, so the winning bid is still me at $44. But none of the bidders know that the current max bid is at $100. This is 5 days before the auction closes

But what happens if I snipe with $100 at the last 5 sec of auction and the current bid is at $40. I will most likely end up winning, but compared to early bidding with such a high max bid isn't it practically and realistically impossible for me to end up paying for the full $100? B/c in the previous scenario watchers and bidders have 5 days to bid up and I may actually have to pay the $100 if enough ppl bid. But at the very last 5 seconds this is practically impossible, correct?

Finally what happens if there was a 2nd sniper whose max bid is $98? He bids at the last 3 seconds of the auction. The price was at $45 when he placed his bid. But my max bid which I placed at the last 5 seconds is still higher at $100. I win, but what do I end up paying? The minimum of any new bid is $2 for exmaple: Do I end up paying the $100 or do I end up paying $49? ($45+2 Ebay places on 2nd sniper's behalf, my max is higher so then Ebay outbids for me 47+2=49)

Answer 1

"But what happens if I snipe with $100 at the last 5 sec of auction and the current bid is at $40. I will most likely end up winning, but compared to early bidding with such a high max bid isn't it practically and realistically impossible for me to end up paying for the full $100?



Finally what happens if there was a 2nd sniper whose max bid is $98?"



No, the current high bidder's bid may be $400, you never know. EBay's proxy bidding system will raise your bid only high enough to be the current high bid, until it has been exceeded.



If you bid $100 on an item that has an opening price of $.99, and no one else bids, you will win for $.99. If someone comes along after you bid and bids $98, if that was the only other bid, you would win for $98. Because your bid was placed first, it wins when two bids are the same, or there is not enough difference between them to meet eBay's minimum bid increment.

Answer 2

If you bid late and bid high you're very likely to win. But *never* enter a bid higher than what you're willing and able to pay immediately through Paypal at auction close. eBay is a legal contract, not a game. It's always possible that the bidding will go to your maximum.



If you bid $100 and another buyer bids $98, your bid will prevail. Your bid would be $100, since the bid increment is $2, and that doesn't exceed your maximum bid.



If you bid less than the bid increment, the bidding goes to the maximum bid. So if your maximum bid was $99 and the other buyer bid $98, your $99 bid would prevail.



If you and another buyer both bid the same amount, the bid that was entered first would prevail.

Answer 3

i'd think 100 if his top was 98 and yours was 100

Answer 4

You pay what you bid.