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<p>[QUOTE=&quot;satootoko, post: 49696, member: 669&quot;]Thinking that means you don&#039;t understand the whole auction process.</p><p><br /></p><p>The proxy bid made by that sniper who won at 50¢ over your bid may have been much, much larger.</p><p><br /></p><p>If an auction draws at least two bids, the hammer price is always, <i>always</i>, <b>always</b> set by the &quot;back&quot; bidder, not the winner.&nbsp; (In most live auctions, without a second bid the item is withdrawn and doesn&#039;t sell at all.)</p><p><br /></p><p>Think about it - I have placed a maximum EBay proxy bid of $1,000 on Lot &quot;X&quot;.&nbsp; The only other potential buyer bid $6.00.&nbsp; I win, and pay only $6.50, not $1,000, because the proxy bidding mechanism places my bid at one bidding increment over the next highest.&nbsp; </p><p><br /></p><p>If it had been a live auction, although I was willing to pay $1,000, I only bid $6.50, until someone else bids more.&nbsp; </p><p><br /></p><p>EBay or live, either way, it was the other guy, not me, who decided how much I would pay.[/QUOTE]</p><p><br /></p>

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