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Technology Stocks : eBay - Superb Internet Business Model
EBAY 85.36+1.1%Dec 12 9:30 AM EST
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To: VinWood who wrote (4353)7/29/1999 8:34:00 PM
From: Doug Fowler   of 7772
 
As a seller, you do NOT know the maximum somebody has been on an item until AFTER the auction is closed, and THEN you know the highest bid by everybody EXCEPT the high bidder.

You only know the amount that was necessary to overcome the second highest bid or to meet the reserve price.

The EXCEPTION to all of this is a Dutch auction. In that case, you do see exactly what everyone bid, but it is the low winning bid that applies to all the winners when the auction has completed.
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