I have a question about the bidding process that has left me confused. I understand proxy bidding, and also the possibility of missing out on a last minute bid because of internet speed and not getting recongized, but this particular situation has happened to me twice in the last month...
I've entered a max bid with 10 seconds left only to get a message that I've been outbid. I would understand if this was a proxy bidding situation, but when I check what the item sold for it is far less than the bid I submitted.
Example: Tonight I bid $503 on an item. I got a message that I was outbid and it gave me the option of raising the bid for less $ then I submitted. Then I see the item sold for $146? If this was a proxy bid wouldn't the buyer have to pay at least $503.01?