Can I lower my max bid?
Answers (6)
In most instances, you can retract the bid up to 12 hours before the listing ends. If it is because of a typo, choose the reason as "Entered wrong amount". Your bid will be automatically removed. You can then go back to that auction and enter the correct max bid you wish to place.
If you've entered an incorrect maximum bid amount you can modify it, but only if you make the adjustment immediately.
If there are 12 hours or more left before the listing ends, all of your bids can be retracted. If the listing is ending in less than 12 hours, you can retract your most recent bid if it's been less than an hour since you placed it.
Make use of 'bid nibbling' or proxy bidding.
During the auction, it will place automatic bids for you above the highest bid, keeping your bid below the max you indicated at the start. Simply enter the maximum bid while placing your first bid, and enable eBay to do this for you.
Setting a max bid is completely confidential and private as only the bidder –not the seller – knows how much the max bid is.
lowest or any tender bid will not necessarily be accepted.” These quoted words constitute the so-called privilege clause.
Never place a maximum bid higher than you would want to pay, because if anyone else bids that high, you just might have to pay what you bid. This is why it's critical to determine exactly what the item is worth — to you, and bid exactly that.
The Bidder may modify its bid after it has been submitted; provided that the modification is received by the Procuring Entity prior to the deadline prescribed for submission and receipt of bids.
If you remember nothing else from this book, remember this: Always enter the highest amount that you're willing to pay for an item, no matter what the current bid level. If you think an item is worth $40, enter $40 as your maximum bid—and don't worry if the current bid is half that amount.
A bid is a binding contract that's active until an auction-style listing ends or you're outbid. You can only retract a bid if the seller significantly changed the description of the item, or if you accidentally bid the wrong amount. Retracting a bid for any other reason is considered an invalid bid retraction.
What happens if two people have the same max bid on eBay?
In the case of a tie, the earlier bidder is considered the winner. We want your journey here to be as great as can be, so we have put together some links to help you get quickly familiarized with the eBay Community.
Know that increasing your maximum bid while you're the current high bidder can inadvertently increase your existing bid. That's because eBay's proxy bidding software will increase the bid to the next bid increment even if the new bid is placed by the current high bidder.
Bide your time. You stand a greater chance of getting the item by placing your highest bid in the closing seconds. If an auction listing has a reserve price, bid up to that amount as early as possible, so other bidders aren't attracted by the low starting price.
Bid sniping—including the use of software that places bids for you—is allowed on eBay, but it doesn't guarantee you'll win an auction. Other members may be using the same tactic, may have set up automatic bidding, or may simply react quickly and place a higher bid before the auction ends.
In an auction-style listing, sellers name a starting price and you bid against other buyers. You can keep track of your bidding from the Bids/Offers - opens in new window or tab section of My eBay. When the listing ends, the highest bidder wins the auction and pays for the item. Remember, a bid is a binding contract.
In real estate transactions, the seller can choose the offer they want and there is no obligation to accept the offer with the highest price. In fact, the seller is not obligated to accept any offer.
The answer is often “no.” Conventional wisdom might suggest that during negotiations, especially in a multiple-offer situation, the buyer who throws the most money at the seller will snag the house. In reality, however, it doesn't always end up that way.
But do sellers always accept the highest offer? The short answer is no. While the offer price is certainly one of the main things the seller will look at, it's not the only thing that matters. Savvy sellers (and sellers with smart Realtors) know that they need to consider the entire offer, not just the price.
Minimum bid, also called “reserve price”: The price at which an item can be sold. If the final bid does not reach the minimum bid, the item remains unsold. In other words, the starting bid can be less than the minimum bid, but the item cannot be sold until it reaches the minimum bid.
Buyers can only purchase from the lowest Ask available, so if that's yours, a Buyer will buy from you as soon as they're interested in meeting your Ask price.
What is the most likely reason to lose a bid?
Inaccurate Documents
The government wants to know that you have the proper steps in place to ensure products or services are of the highest quality. Without these documents, or by submitting a document that is not detailed enough, it's safe to say it'll result in a bid loss.
The myth is out there that all contracts are awarded to the lowest bidder. The truth, however, is that all decision makers would like to award every contract to the lowest bidder, but often do not or cannot.
In short, sniping generally works very well, but it won't always win, and it won't always result in you paying less. If you really want something that doesn't show up on eBay very often, sniping probably isn't the best way to go. But in general, it's a good strategy.
A max bid is the most you are willing to bid on a particular item. After placing a max bid, your bid will increase incrementally whenever another bidder makes a bid that is less than your max bid.
Making changes to or discarding parts of bids, for example, bid securities, after receipt; “losing” all or parts of bids. Changing the announced evaluation criteria during the evaluation process. Arbitrarily assigning or changing bid scores; making deliberate “errors” in scoring.
If a bid contains both clerical and judgment mistakes, a bidder may withdraw his bid from consideration if the price bid would have been substantially lower than the other bids due solely to the clerical mistake, that was an unintentional arithmetic error or an unintentional omission of a quantity of work, labor or ...
A bid adjustment is a percentage increase or decrease in your bids. Bid adjustments allow you to show your ads more or less frequently based on where, when, and how people search. For example, sometimes a click is worth more to you if it comes from a smartphone, at a certain time of day, or from a specific location.
The Bid is the price that a buyer is willing to pay for the stock. This price is almost always lower than the Ask. The Ask is the price the seller is willing to sell the stock for. In a perfect world, we would be able to buy the stock at the Bid price, but that's rarely possible.
More often than not, the unpaid items someone refused to buy are quietly returned to the original consignor, put into a future auction with a lower estimated value or are sold privately for a significant loss.
You are given another chance to pay, within a brief timeframe of 2 or so days. If you do not pay, you lose the unpaid item case, it gets recorded on your account and other sellers may not do business with you. The item you “won” is re-listed so someone else can buy it.
Can eBay force you to pay?
According to eBay rules, buyers must pay for the item within 4 days of purchasing or winning an auction. However, sometimes when selling on eBay, payment might not be received immediately. For example, the buyer makes a Best Offer to the seller, gets consent, and then stops responding to messages.
A Second Chance Offer gives you the opportunity to make a sale to bidders who didn't win your auction. With a Second Chance Offer, a non-winning bidder gets the chance to buy the item at a price equal to their last bid.
In real-time bidding (RTB), the second-price auction gives the winner a chance to pay a little less than their original submitted offer. Instead of having to pay the full price, the winning bidder pays the price offered by the second-highest bidder plus $0.01.
If you bid below the reserve price, you'll see a "Reserve not met" message. This means that even if you're the highest bidder at the end of the auction, you won't win the item. Sellers can lower their reserve price during the auction or make a Second Chance Offer once it ends.
If you are outbid immediately after placing a bid, it's likely that another bidder is using automatic bidding and has a maximum limit higher than yours. You'll need to increase your maximum limit in order to be the highest bidder.
eBay and sellers encourage people to bid early is because it makes them more money. eBay's search results show the number of bids an item has received, and the current highest bid.
Eventually, the sale time ends and you end up with many watchers, but no bids, offers, or sale. Why? Watchers can be very encouraging, but they do not always translate into buyers. People watch items for a number of reasons, and may not always intent to purchase.
In this mode, the listing is automatically extended until no bids have been placed within 15 minutes. When 15 minutes have passed with no bidding activity, the listing ends. The purpose for the 15 Minute Rule is to prevent sniping and offer all users the opportunity to bid.
Popcorn bidding, also called Dynamic bidding, is the way the host gives the bidders more time to rebid. When a bid is placed in the time left period, an extra time period will be added which allows bidders to place more bids.
There is no “15 minute rule”. Bidders can place bids up to the last nano-second, although most of those very tightly scheduled bids are done electronically by services such as esnipe.
What is shill bidding?
Shill bidding is intentionally fake bidding by a seller on his/her own auction to inflate the final price. This can be accomplished either by the seller himself/herself or by someone colluding with the seller to place fake bids on his/her behalf.
Most auction houses do not allow bids below the start price.
If you remember nothing else from this book, remember this: Always enter the highest amount that you're willing to pay for an item, no matter what the current bid level. If you think an item is worth $40, enter $40 as your maximum bid—and don't worry if the current bid is half that amount.
Know that increasing your maximum bid while you're the current high bidder can inadvertently increase your existing bid. That's because eBay's proxy bidding software will increase the bid to the next bid increment even if the new bid is placed by the current high bidder.
It's most effective to cap it at around 25% to 30% higher than I'd want to pay for the average ad. Any lower and you'll risk losing a lot of placements.” Keeping your bid cap lower than your limit may help when you have a tight budget, but if you have the financial room, raising the cap could open more opportunities.
Bide your time. You stand a greater chance of getting the item by placing your highest bid in the closing seconds. If an auction listing has a reserve price, bid up to that amount as early as possible, so other bidders aren't attracted by the low starting price.
Your ability to end a listing early depends on the amount of time remaining in the listing and whether the listing has received any bids. Can the listing be ended early? Yes, but you must sell the item to the high bidder.
In many cases — yes. Buyers who have placed a bid can retract their bid any time before the auctioneer announces the sale has been completed. It's important to note, however, that the withdrawal of one bid does not revive any previous bid.
If, after receiving the invoice, the buyer has still not paid, you can cancel the order 4 calendar days after sale. You can also make an offer to the next highest bidder in the Auction. Use the Cancel order button and select the Buyer hasn't paid option from the drop-down menu.
As a home buyer, you have every right to offer less than the asking price if you feel it's too high. On the other hand, the seller has every right to reject your offer, if they feel it's too low. So be sure to do your homework and tread carefully.
Can a buyer accept a lower offer?
A low offer may be upsetting to the sellers, but if you and your real estate agent present the offer along with an expression of your appreciation for the property, it's more likely to be accepted than a low offer accompanied by a half-complete contract or an insult about the property's condition.
As with all negotiations, when you are making an offer on a house, start low. A good rule of thumb though is to offer 5% to 10% lower than the asking price. Don't forget that sellers often take this into account and deliberately put their house on the market for more than they expect or would accept.
