Q: Why did an auction just extend after a bid was placed?
A: Sometimes folks will hover over an auction item and then swoop in at the last minute to place their bid. This is called "sniping". We have initiated an "auction extension" feature to address this.
So, what exactly is “sniping”?
“Sniping" is when a bidder puts in a bid at the last minute, which leads to auction owners getting lower prices, and buyers missing out on items they want and have been incrementally bidding on. Not cool. So, to avoid sniping, in the last hour of a listing, any new last minute bids which are higher than the current bid, will trigger a 30 minute extension to the auction from the time of the bid. This gives other bidders a chance to reply to that bid and auction owners are assured that the highest bid will be procured.
This extension is only triggered when there is a new winning bid placed on an item within the last hour of an auction. Only items with more than one bidder qualify for an extension and only one extension is granted per auction.
Confused? Let’s show a couple of scenarios:
Scenario 1 - New high bidder enters auction in last hour -
Laura is the highest bidder at $4,000. Tom places a higher bid of $4,100 with 30 minutes remaining on the auction. A 30 minute extension is triggered.
Result: Tom is now the highest bidder and the auction will continue a 30 minutes past the original deadline (ie ends an hour after Tom’s bid) to allow Laura to increase her bid if she wishes.
Scenario 2 - New bidder enters auction in which there is a proxy bid. (See the Q & A on "Proxy Bid" for more information on that) Laura has placed a proxy bid of $4,000. The current high bid is $3,500. Tom comes in within the final hour of the auction and bids $3,600. Laura’s proxy immediately rebids at $3,700. Tom could rebid, but as it is now not his first bid, it does not trigger an extension. Result: Laura is now the highest bidder at $3,700 and bidding can continue until the predetermined deadline.
Make more sense now? All this is to ensure the best possible outcome for the organization/charity being supported by the auction, and to allow bidders the opportunity to win the items they desire.
Should this still be unclear, please feel free to reach out to us at email@example.com and we will happily talk you through it!