What does bid mean in ebay

It is true that if two or more people are bidding for the same item, the bids can automatically and quickly rocket up until they max out. For this reason, some bidders prefer to bid the bare minimum on every single one of their bids—effectively defeating the purpose of the proxy software.

Of course, if you choose to operate this way, you have to be a lot more hands-on with your bidding, essentially checking back on all your bids as frequently as necessary to ensure that you always end up on top. I would like to receive exclusive offers and hear about products from InformIT and its family of brands. I can unsubscribe at any time. Pearson Education, Inc. This privacy notice provides an overview of our commitment to privacy and describes how we collect, protect, use and share personal information collected through this site.

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Marketing preferences may be changed at any time. To do so, enter a dollar value into the box your bid and click "Place Bid. Before you decide to bid, however, there are some things you should know:. In a traditional non-eBay auction, bidders frantically place competing bids. When bidding slows to nothing, the auctioneer pounds the gavel and the item is sold. On eBay, auctions are open to bids for exactly 1, 3, 5, 7, or 10 days.

When time is up, the high bidder wins, even if people are still frantically bidding. You must place a bid that is higher than the current bid. Below the bidding box, you'll see the text "Enter some amount or more.

You may pay less than your bid if you win. When you win an auction you always actually pay only a small amount more than the next highest bid —even if your bid was thousands of dollars more.

If your bid wins, you must buy. Your bid on an auction is a legally binding contract. If, when time runs out, your bid is the highest, you have purchased the item and must pay the seller for it. Use 1-Click Bid to place small bids. In the last 15 minutes of an auction you've bid on in the past, you can instantly bid one increment higher than the current bid by clicking the "1-Click Bid" button. Other bidders may be using the automatic bidding system. Because many shoppers use eBay's automatic bidding system, eBay auctions may not behave in ways that make sense to you.

Through the system, eBay will bid automatically on behalf of the high bidder against underbidders. This allows bidders to bid very high while at the same time ensuring that they never pay more than the absolute minimum needed to beat the next highest bidder. Here's how it works:. The following scenario helps to illustrate how the eBay bidding system works:. Day 1. Day 2. Day 3. Jack's maximum is still higher, so eBay immediately bids on his behalf again and adjusts the minimum accordingly.

Day 4. Therefore the highest bid you see on the item depends on both your maximum bid and the maximum bids of other users. You do not have to enter your maximum bid the first time around.

If you want to keep the price low for most of the auction, you can enter a lower figure with your first bid. To revise your maximum bid, click the "Place Bid" item again. As the price increases, so do the incremental bids, and eBay shows you the minimum bid that must be made. Unless you are unable to contact the seller, or the item listing changes significantly, you cannot retract a bid.

If you've entered an incorrect maximum bid amount you can modify it, but only if you make the adjustment immediately.