Belt Auction - How does eBay maximum bidding work?

How does eBay maximum bidding work?

I just started an eBay acount and I need some help please. My sisters says that you just put in the maximum amount of money that you're willing to pay (say $24.00) and then you watch other people bid. Say they only bid to $20.00 and then you win. You only have to pay $1.00 more then them so you end up paying $21.00. Is that how it works? If that's true, then can't anyone just bid $100,000? No one will ever get to that number. Say they only get to $60. Then you only need to pay $61. I'm confused. Please help!

Public Comments

The eBay discussion forums will be able to help you way better than anyone here. -- Hold on and I will get you a link! EDITED TO ADD: See this link, hope it helps! By the way, never bid more than you're willing to pay, because someone else might come along and "nibble" at your bid (put in multiple bids in $1 or $5 higher increments, and keep on pushing up the amount you have to pay). Remember it's the SECOND-highest bidder who determines the auction price!
your getting there. you base your bid on what your willing to pay. If your highest bid is 10.00, and the bidding starts at .01, and nobody else bids, you get it for .01. The ebay bidding is done by proxy. you don't have to be there. If you find an item that's hot, many will overbid each other to get it. That's why is best to put in your top bid and don't get caught up in a bidding war just to "win" something. More than likely, another one will come up to bid on again anyway.
just go to ebay.com and go to the help section and ask them because that anybody will answer you...
If you put 100,00$ then if someone ends up bidding a lot, then you will have to pay a lot. For example millionaires on bidding sprees... I do not suggest you put a high maximum bid, unless you are indeed a millionaire. Just put it in an acceptable range...
What they said above is true. But, this is the old fashioned way. If you go to auctionsniper.com you can put in your maximum bid your willing to pay on ebay, and it will wait until the last second to place your bid. You are guaranteed to have the last bid with no time left for anyone to outbid you.
http://pages.ebay.com/help/buy/proxy-bidding.html
Yes, maximum bidding does work. I have done it several times. What you really need to do is decide how much your willing to pay for something (don't forget about shipping costs, I deduct that amount from the amount I'm willing to pay). Overbidding (like bidding $100,000.00) is ridiculous. You may wind up paying way more then you're willing to pay. Also, check out the value of the item you want. It may not be as good a deal as you think. I've seen things sell for more then I could buy them at full retail in a store. If the bidding goes beyond your maximum amount, you're done unless you bid another maximum amount.