When you place a bid, you enter the maximum amount you're willing to pay for the item. The seller and other bidders don't know your maximum bid.
The system will place bids on your behalf using the automatic bid increment amount, which is based on the current high bid. The system will bid only as much as necessary to make sure that you remain the high bidder, or up to your maximum amount.
If another bidder places higher than your maximum bid, you then will be out bid. Your maximum bid is kept confidential until it is exceeded by another bidder.
Here's another example:
A) The current bid for an item is $6.00. Tom is the high bidder, and has placed a maximum bid of $12.00 on the item.His maximum bid is kept confidential from other members.
B) Laura views the item and places a maximum bid of $20.00. Laura becomes the high bidder.
C) Tom's bid is raised to his maximum of $12.00. Laura's bid is now $12.00 plus bid increment = $17.00
Increment Chart Link >> http://help.jewelryroom.com/article/8253/13786/auto-bid
Extended Bidding Link (2 more minutes is added to an auction) >>
http://help.jewelryroom.com/article/8253/14441/Extended-Bidding-(2-more-minutes-is-added-to-an-auction)
NOTE: The best way to place bid in any auction is to input your HIGHEST bid amount you're willing to pay for the item.