Posted by BarnyardEngineering on June 09, 2020 at 04:39:50 from (173.186.244.245):
In Reply to: on line auctions posted by Charlie M on June 08, 2020 at 16:35:35:
Quoting Removed, click Modern View to see
The extension is to prevent "sniping" which is where someone swoops in at the absolute last second and bids the minimum amount above the current winning bid. The previous winning bidder has no chance to increase his bid, and loses the auction.
In conjunction with minimum bid increments (i.e. you can't bid $25001, you have to bid $26000), it makes the auction more civilized and "fair."
Both of the above practices originated on, and are still prevalent on, eBay.
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