No, you aren't thinking it through.
This afternoon it was bid $710
I bid $720. Once I put in my initial bid, the time stays the same so I'm always in front of any matching bid per the time of my first post.
My $720 was matched by 4 other guys who wanted 1 each for $720, and one who wanted two for $720.
So I went to $730. Again, I was matched so again I was the 7th guy because I was the latest bid.
$740, same thing.
$750, I beat out the fellow who maxed at $740. So now there were 5 buyers @ $750 for one each, and a buyer for 5 at $740. So the auction goes back to $710, each of us getting one, only.
Then someone came in, probably Chambersroom, and went to $760 for three. Now I'm out, the fellow at $740 is out, and there is still only 6 units but bids for 7. Say, Chambersroom keeps bidding until it gets to $810.
Bang. Woow and perhaps the other three guys are stopped out @ $800. Chambersroom has the High bid but only wants three. They are selling six. So the price goes back to the $800 but Chambersroom has the "high" bid at $810 so he gets precedence over the other three, of which Woow is the last per the time stamp.
In other words, Chambersroom was willing to bid higher. Woow was not. |
