America's #1 Online Cigar Auction
first, best, biggest!

Last post 5 months ago by ThreeBucksMax. 6 replies replies.
Would not accept preset bid to win with 9 seconds remaining in auction
Jump to Bottom | Previous Topic | Next Topic
Muskyboy Offline
#1 Posted: Mon, Dec 11 2023, 10:44 PM EST
Joined: 10-16-2023
Posts: 11
i tried to bid the suggested $14 with 9 seconds remaining and it told me the minimum bid was now $14.50? After the auction ended there were numerous bids under $14 listed as winning bids? WTF?


https://www.cigarbid.com...-serie-r-cigars/4827538/
LeeBot Online
#2 Posted: Mon, Dec 11 2023, 11:05 PM EST
Joined: 07-08-2020
Posts: 2,021
That seems weird to me. May have something to do with the bid increment being $1? But that makes me wonder how people bid $13.50 to begin with. Think
Tiver Offline
#3 Posted: Tue, Dec 12 2023, 2:48 AM EST
Joined: 08-22-2019
Posts: 338
If you check on your "Bid History" you should see that your bid of $14 doesn't show up. The auction minimum bid was raised to $14.50 as it neared the close.

Your bid was not accepted as it did not meet the minimum bid amount at the time submitted. If you had used the "max bid" feature at $14.50 or more your bid would have been accepted (you'd have met the minimum bid requirement) and you would have won one of the lots that was taken by one of the $13.50 winners.

I have seen bid increments go up near the close of an auction even though it seems the increment shouldn't be more than $.50. I don't know why this happens on some auctions and not others. It would not benefit the auction house as they could have sold a pack to you for $.50 more than on of the $13.50 winners, but like I suggest, your bid was not accepted due to not meeting minimum.

If I am wrong and your bid history shows a $14 bid, they would/should/could award you a win for that auction if you contact customer support.
tonygraz Offline
#4 Posted: Tue, Dec 12 2023, 11:36 AM EST
Joined: 08-11-2008
Posts: 20,280
Consider yourself lucky. Based on the last one one those LCGs I smoked recently, I wouldn't give you $!.50 a piece for them
ZRX1200 Offline
#5 Posted: Tue, Dec 12 2023, 2:56 PM EST
Joined: 07-08-2007
Posts: 60,628
Big higher, don’t ever lose a bid…..

Muskyboy is a WEAK BIDDER…..and a COWARD.
ThreeBucksMax Offline
#6 Posted: Thu, Dec 14 2023, 12:33 PM EST
Joined: 09-26-2022
Posts: 1
The way the bidding system is set up it favors those that bid early and use the max bid option. I'm not sure how it handles increasing the max bid, but it seems to be tied to a percentage of units bid upon at the next lowest price and time since the last bid. So you end up with staggered levels of bids that favor the people who bid first and bids rapidly increase towards the end.

This makes it so that as the time on the auction approaches zero the size of these levels decreases. You can really notice this effect on the larger auctions. For instance in the link below you see a large base getting them for $12.50, a smaller group getting them for $13, and $13.50. You also see the snipers paying $14, $14.50, and $15 in smaller groups (except for the first bidder who probably mis-bid).

https://www.cigarbid.com...red-dot-robusto/4824896/

So by trying to snipe in the last seconds of an auction you will be paying a higher price, and have to deal with rapid price level increases due to other snipers.
Users browsing this topic
Guest
Back to Top