EBAY

[David J Adams]

Ah...this is fairly simple.  When you bid on Ebay, you put
in a maximum bid.  The bid is incremented by whatever amount
the seller specifies so that if you win, your final bid could be
less than your max.

For example,

A widget is up for auction for a min bid of $1000.  Being hot for
widgets, I set my max bid at $2000.  My bid is entered on screen at
$1000.  However, my arch enemy Chris, the widget-wannabe, sees the
widget and sets his bid to $1500.  My max is higher, so the current bid
is incrimented to $1501.  Chris goes through a few rounds until he
sets a bid level above my original $2000.  At this point, he holds the
highest bid of $2001.  I am notified via email that I am outbid.  I realize
that for $2000 I can buy an Olympus Dl-600 and still have enough cash
for a K2 kit from elecraft, so I pass and let Chris have the widget.

Dave

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