How Winners are Determined

Summary:

When an auction ends, the winner is the highest bidder whose bid meets all auction requirements. ReefnBid’s bidding system handles tie-breaking automatically and ensures fairness in every scenario.

1. Highest Bid Wins

• The winner is the person with the highest bid at the auction end time.
• This can be a regular bid or a proxy bid.

2. Tie Rules

• If a proxy bid and a regular bid are the same amount, the proxy bid wins.
• If two proxy bids are the same amount, the earlier one wins.

3. Simultaneous Bids

• If two bids are placed within seconds of each other at the same amount:
  • The system timestamps each bid to the millisecond.
  • The earliest timestamp wins.
• This applies to both proxy and regular bids.

4. Proxy Bidding Scenarios

• If your proxy bid is higher than someone else’s proxy bid, you win at the second-highest bid + minimum increment.

5. Reserve Price

• If the highest bid is below the reserve price, there is no winner.
• If a proxy bid meets or exceeds the reserve price, the current bid will jump to match the reserve, and normal bidding continues from there.

6. Sniping Protection (If Enabled by Seller)

• If a bid is placed in the final 60 seconds, the auction extends by 60 seconds.
• This continues until no bids are placed in the final 60 seconds.
• The winner is still the highest bidder at the final close.

Tip:

If you want to ensure you don’t lose due to timing or quick counter-bids, use Proxy Bidding so the system automatically keeps you in the lead.