|Q - How does the Bid Increment work?
A - The SELLER can regulate the amount that each bid must increase by.
The SELLER starts an auction as follows:
$ 1.00 Start Price
$ 5.00 Bid Increment
The bids follow in steps as follows:
- Bid #1 must be at least $ 1.00
- If Bid #2 is $ 6.00, then Bid #3 must be at least $ 11.00
- If Bid #4 is $ 34.34, then Bid #5 must be at least $ 39.34
- If Bid #6 is $ 87.65, then Bid #7 must be at least $ 92.65, etc