Quote:
Originally Posted by Wearever
It is in the link you gave explaining how Reserve bidding works. If you click the Learn More link, it gives that example. Essentially the reserve is what needs to be met. You can over bid or under bid. But you'll be paying the reserve price even if you over bid. The over bidders win in this type of auction. The lower bids are discounted because they didn't reach the reserve set amount.
I personally don't bid on ebay, I just pay the amount shown at Buy it Now. But some do.
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Reread that example, taking heed of the phrase "maximum bid".
Now, consider the fact that your erroneous interpretation would result in an incredibly silly way of doing things, rendering the whole concept of "bidding" a bizarre and pointless form of "buy it now-ing".