Auction.com Bid Increments

[Andrew Kiepper]

I haven’t been able to find anything on this topic so I wanted to put the info out there for other people. I was bidding on a property on Auction.com. The opening bid was $30,000 with increment bid minimums of $5,000. It was bid the first day of the 7 day auction. 4 days into the auction another bid of $35,238 was bid, my cap was $40,000 so I jumped in at $40,238. 1 day before the auction ended they changed the increments to $1,000. This irritated me, but I was still the high bidder. Then the last day of the auction with about 1hr left they changed the increments to $100 and I was out bid. Hopefully I’ll get a call in a few days to say the higher bidder backed out as that sounds like it is a common occurrence from other BP members. If not, I guess it’s the one that got away. Good luck to those out there bidding.