Auction format - bidding question - Net54baseball.com Forums

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08-11-2005, 02:22 PM

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Auction format - bidding question

Posted By: Judge Dred (Fred)

I bid in many different auctions. I've seen different bidding formats where they have REGULAR BID and TOP ALL BIDS. In most cases the next valid bid entered must top the existing high bid by 10%.

Can someone explain the difference between REGULAR BID and TOP ALL BIDS.

What should happen in the following scenario:

Lot opening is $1,000.
Someone bids $1,000 - the auction shows the opening at $1,000.
I bid $1,100 for the second bid - the auction shows the new high bid at $1,100.
Someone else bids $3,000 (whether it be by REGULAR BID or TOP ALL BIDS) -

What should the displayed high bid be at?

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