Bidders enter the number of items they want at the given price. The
copper spoons in the previous example would all sell for $10 each to bidders as
long as the spoons last. When all the spoons are sold, the listing is over, whether
the time has expired or not. You can also buy lots of goods, where you buy
several of the same items for one price.
Use Proxy Bidding
The most common technique used in eBay is proxy bidding.
With proxy bidding, you decide what the maximum amount
is that you want to bid on an item (only you know what that
amount is). Your bid will be entered at the least amount to be
the highest bid at that time. If there are no bidders, your bid
becomes the starting bid, even though this starting price may
be well under your full bid or maximum amount. eBay will
automatically keep you in the auction by bidding in increments
until your maximum is reached. If your bid wins before your
maximum is reached, you only have to pay the winning bid
amount. See Chapter 4 for how to enter a proxy bid.
Use Free Bidding
Another technique, free bidding, is when you bid on an item for the moment. You
are not entering the maximum you are willing to pay, but only what will win the
current bid. This technique has several shortcomings, however. First, you cannot
know what another bidder??™s maximum bid is, so even though you enter a bid
higher than the current amount, it may be less than the maximum specified by
another bidder.
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