Starting Bids
Items are added to the auction with a "minimum starting bid", which is set by the auction's administrator(s). The first bid on the item must be equal to or greater than this starting bid value.
Bid Amounts and Minimum Bid Increments
Minimum Bid Increments
In order to keep bidding fair, the next bid on an item must be greater than or equal to the "Minimum Bid". The minimum bid is calculated as the sum of the current bid plus a pre-determined incremental amount (the minimum bid increment). The following algorithm is used to calculate the next minimum bid amount:
Minimum Bid Increment Algorithm
| When The Item's Current Bid Is | The Next Minimum Bid Is |
|---|---|
| $0.00 | The Minimum Starting Bid |
| Between $0.01 — $0.99 | Current Bid + $0.05 |
| Between $1.00 — $2.49 | Current Bid + $0.10 |
| Between $2.50 — $4.99 | Current Bid + $0.25 |
| Between $5.00 — $9.99 | Current Bid + $0.50 |
| Between $10.00 — $24.99 | Current Bid + $1.00 |
| Between $25.00 — $49.99 | Current Bid + $2.50 |
| Between $50.00 — $99.99 | Current Bid + $5.00 |
| Between $100.00 — $249.99 | Current Bid + $7.50 |
| Between $250.00 — $499.99 | Current Bid + $10.00 |
| Between $500.00 — $999.99 | Current Bid + $25.00 |
| Between $1,000.00 — $2,499.99 | Current Bid + $50.00 |
| Between $2,500.00 — $4,999.99 | Current Bid + $75.00 |
| Between $5,000.00 — $9,999.00 | Current Bid + $100.00 |
| Between $10,000.00 — $24,999.99 | Current Bid + $250.00 |
| $25,000.00 and up | Current Bid + $500.00 |
Regardless of the currency used by the auction, the numerical increments outlined above are the same.
This algorithm is similar to those found on commercial auction sites such as eBay™.