Belt Auction

question about automatic bidding on ebay?

ok, um i have been looking through questions about automatic bidding on ebay, and i think i finally understand it and everything, but i just want to make sure. so if anybody wants to correct me, go ahead. so her it is: for instance; the item i am bidding on already has 3 dollars listed. i go to "your max bid" and bid the highest i want to on an item say 25 dollars. i put it in there and leave the rest to the computer. while somebody is putting 4.50, the computer automatically puts in 4.75 for me. so on and so on until the time runs out. after ive won the item i want, i dont have to pay 25 dollars. i only have to pay 4.75, which is the amount the computer put in there for me to win the item. oh and so i dont have to keep bidding the next highest amount like i usually do, i just put the max number of money i am willing to pay for the item, and let the computer do its thing. ok, i know that was a handful, but can somebody tell me if im right on what i just said, or correct me please, thank you :)

Public Comments

1. You would only end up paying $4.75 if no one bids higher than you do. If someone bids $5.00, your automatic bidder will continue to increase the value of your bids automatically (hence the name) until it reaches your maximum amount ($25) and stops or the auction ends and you are the highest bidder at whatever amount the last bid was (at or under $25) I think if you set the program to "go to your max bid" it will go directly from 4.75 to $25 (if that is the highest you are willing to spend - your 'max bid) rather than going through incremental bids,in which case you could end up paying a much higher price than if you set the incremental bidding lower (say a dollar or so).