When configuring your auction’s bidding style, you can choose between Max Bids and Traditional Bids. This article will explain the difference between the two, as well as how the bidding logic works in the case of a “tie.”
Contents:
Configure Bidding Settings
To configure your bidding settings, head to the Auction Settings area of your form-level control panel.
Then, scroll down to Bidding Settings and use the radio buttons to select Max Bids or Traditional Bids.
Please note: These settings cannot be changed once bidding has started.
Max Bids
If you select Max Bids, the system will prompt bidders to enter the maximum amount that they want to bid on the item. Then, the system will auto-bid up to that amount, using the bid increment you set in the Auction Settings.
For example, let’s say an item has a bid increment of $5, and the current highest bid is $10. John places a max bid of $50. John is now the winning bidder at $15. If someone else bids on the item, the system will continue to auto-bid for John in $5 increments until his max bid of $50 is reached.
The benefit of Max Bids is that it allows bidders to set a limit and then forget about it—no monitoring required. They’ll only need to input a new bid if their max bid amount is surpassed, in which case, they’ll receive a notification.
Traditional Bids
If you select Traditional Bids, the system will immediately bid the full amount the bidder enters.
For example, let’s imagine again that an item has a bid increment of $5, and the current highest bid is $10. John enters a traditional bid of $50. He becomes the winning bidder, setting the current highest bid at $50.
With Traditional Bids, bidders need to stay on top of the bidding action. Each time a bidder is outbid, they’ll need to add a new bid if they want to win the item. Traditional bids can boost the competition factor of an auction, as bidders remain focused on winning their favorite items.
Bidding Logic
If two people input the same max bid, the person who entered their bid first wins. The second bidder will receive a notification that they’ve been outbid and will be prompted to enter a new max bid if they want to keep bidding on the item.