Why We No Longer Have Minimum Bid Increments

Any information from the Steward
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The Steward
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Why We No Longer Have Minimum Bid Increments

Post by The Steward »

Stolen from the Admin, but worth reading if you missed it:

"Here is the reason that we don't have minimum increments with proxy bidding. Let's say you bid $1000 and your high bid is $10,000. And, let's pretend there is a minimum increment of $3000. So, person B bids $9000. Your high bid is still $1000 above their bid so you should still have the high bid. But, because of the $3000 minimum, the next bid would need to be $12,000 which is above your max bid. Therefore, person B would have the high bid at $9,000 even though you said you'd go up to $10,000. To recap, that is why we DON'T do it this way with minimum increments."
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