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Location

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Utah

Is there a rule-of-thumb on bidding that $5 increments means $5 from the highest bidder?

If there are 2 seeds and bids are $200 and $150 there are too many bid options between $150-200 and there could be a bidding war in that space that can be confusing.

So, is there a general rule that if I state bids must be in $5 increments, that it is from the high bidder or do I need to state it clearer in the rules if that is what I want?

Also, if that is a rule then I assume the same person cannot bid on 2 seeds with a big gap in their bid.

Thank you!!!
josh

3/28/2009 3:40:12 PM

Pemberton, BC

I think your talking about under bidding Josh, where someone bids in between the 2 bids hoping to pick up the 2nd seed? If so it's up to you whether you want to accept those bids or not. Some auctions have a no "under bidding" rule so that bidders have to bid more than the highest bid to get in on either seed, some don't it's up to the auctioneer.

Chad

3/28/2009 3:57:51 PM

Owensboro, Ky.

Not positive, but I don't think any auction on bp.com has ever allowed underbidding...even if there are two lots and only one current bid??? Having said that, I still wish Josh the best return that he can possibly get thru his auction, to fund a worthwhile project!!!! Grow 'em BIG!!! Peace, Wayne

3/28/2009 4:38:14 PM

Utah

I think backbidding would get me the most money but I think it will be confusing. So, for simplicity, I posted that I will not be taking underbiding except when there is still a lot open.

That sounds fair.

Thanks Chad and Wayne for giving me guidance on this. And thanks both of you for your overall support.
josh

3/28/2009 5:13:41 PM

Canada

Back bidding is hard to understand. I agree on the getting the more money but are you going to risk it?
regards,
anna
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10/30/2009 3:13:45 AM