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General Philatelic/Newcomer Cnr : Auction Question on Proxy Bids

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Staantoo
20 Apr 2014
01:33:36pm
I have been bidding on an item where some of my bids are proxy bids in response to another member's bid. In some cases, my proxy bid is exactly the same as the other person's bid rather than the next step higher. How can I be the high bidder if my bid is not higher than the previous bid?
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Staantoo
20 Apr 2014
01:37:39pm
re: Auction Question on Proxy Bids

For example, check out the bidding on Lot 769152.

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auldstampguy
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Just one more small cover .....
20 Apr 2014
02:54:11pm
re: Auction Question on Proxy Bids

Stan,
In the situation where your proxie bid was the same as the amount bid by the other person, was that amount your bidding limit at that point in time?

Regards ... Tim

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mncancels.org
Staantoo
20 Apr 2014
03:07:06pm
re: Auction Question on Proxy Bids

yes

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roy
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BuckaCover.com - 80,000 covers priced 60c to $1.50 - Easy browsing 300 categories
20 Apr 2014
05:15:40pm
re: Auction Question on Proxy Bids

It's yours (for the moment) because your bid was placed earlier than the later $5.00 bid. Not all of your bid was needed at the time to make you the high bidder and the balance of your bid was saved as a potential "Proxy" bid. When the next bidder came in later and bid the same amount as your earlier top bid, the system awards the bid to you because you were first. Had you bid higher than $5 previously, the system would have calculated the next available bid for you, but since it did not have a higher bid in hand, it used what it had.

Basically, ties go to the earlier bidder.

Roy

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"BuckaCover.com - 80,000 covers priced 60c to $1.50- 7,000 new covers added November 4"

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amsd
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Editor, Seal News; contributor, JuicyHeads
21 Apr 2014
08:00:22am

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re: Auction Question on Proxy Bids

Stan,

Roy properly describes the system and one of the benefits of proxy bids.

do you have other questions about that, or other, aspects of bidding?

David

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Staantoo
21 Apr 2014
03:41:44pm
re: Auction Question on Proxy Bids

no more questions. thanks very much for enlightening me.
stan

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