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[OM] Does my max ever get a chance to beat the Reserve?

Subject: [OM] Does my max ever get a chance to beat the Reserve?
From: "Jim L'Hommedieu" <lamadoo@xxxxxxxx>
Date: Thu, 18 Jul 2002 02:31:39 -0400
Maybe an example is in order. Let's say I'm in a bidding war and my max is $130, and the Reserve is $125.

If the present bid is only $99, I become the Highest Bidder at an increment above $99, right? I think the "present" bid would be my $100, right? If I'm willing to spend $130 and the reserve is $125, does the system match us up in the closing seconds, giving the Seller a sale at his $125 reserve?

Or do I as a buyer, need a competitor to "push" my bid up to the reserve price? The help file I found explains a Reserve Price Auction in a very short paragraph and doesn't address this.

Thanks,

Jim L'Hommedieu
(Lamadoo)



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