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- Posts: 217
- Joined: 1 year ago
Good Evening, Venus!
Thank you for your inquiry! In regards to the Online Rising Auction, the 'Max Bid' refers to the feature where customers can enter in a value they wish to bid up to (as a maximum), and the system will continually bid in $1 increments against other customers up until it reaches the value entered. This will continue to bid for the customer even if they are not actively on the website. However, an entered Max Bid does not necessarily mean that is the price the customer will win at or pay.
For example; A customer enters a $23 Max Bid, but ends up winning it for only $12 since not many other users bid against them. The winner with the Max Bid would only need to pay the price they won the auction at ($12).
We hope this information assists with your inquiry!