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<p>[QUOTE=&quot;ctrl, post: 1367696, member: 13378&quot;]Correct. Another example:</p><p><br /></p><p>You see a 1921 Peace Dollar just put up for auction, starting at $0.99 with 0 bids. You are willing to pay up to $100 for it, so you place a Max Bid of $100. The new current bid will be the $0.99 amount, with you as high bidder. OtherBidder1 comes along and thinks he&#039;s going to try to get it for $5, so he places a Max Bid of $5. The result will be a new bid of $5.01, with you as the high bidder and OtherBidder1 having been automatically outbid. Next comes OtherBidder2 who really wants this coin and places a Max Bid of $500. The result will be a new bid of $101 with OtherBidder2 being the high bidder and you&#039;ve been automatically outbid. While people keep bidding anything below $500, the bid will automatically increment and OtherBidder2 will remain the high bidder (he really wanted that coin).</p><p><br /></p><p>1. $0.99 0 bids</p><p>2. $0.99 1 bid, you are highest bidder</p><p>3. $5.01 2 bids, you are highest bidder (OtherBidder1 automatically outbid to next highest increment)</p><p>4. $101.00 3 bids, OtherBidder2 is highest bidder (you have been automatically outbid to the next highest increment)</p><p>5. ... anything below $500 and OtherBidder2 remains the winning bidder but the price keeps increasing with each bid.[/QUOTE]</p><p><br /></p>

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