So, you just found the item you have been dreaming of and you are ready to bid. However, did you know there are 2 ways to bid on Yahoo Auctions? Those are Bid and Buyout/Buy Now.
Confused? Don’t be! If you If you have used eBay before, it is very similar.
Bidding on an item
This is the regular type of bid that other sites like eBay have. You place and bid and other users bid against you and the highest bidder wins the item.
Automatic bidding system
Yahoo has an automatic bidding system set up where you can set your maximum bid for the auction and not have to continually bid.
Here is an example:
If the auction has a start price of 5,000 yen with no current bids and you set a maximum bid of 10,000 yen, you will become the highest bidder at 5,000 yen. If someone else bids against you, say 5,250 yen, then Yahoo will automatically bid you up to the next minimum bid which is 5,500 yen. This is the same all the way up to your maximum bid of 10,000 yen. If someone else sets their maximum bid at 15,000 yen, they will become the highest bidder at 10,500 yen (the next minimum bid) as your bid will max out at 10,000 yen.
If no one else bids against you, your bid will not increase. That means if you set your maximum bid at 10,000 yen, you will win the auction for 5,000 yen if no one bids against you.
Please note: If you bid the “buy now” price, it will consider your bid as “buy now”. That means you will automatically win the auction at the buy now price so please be careful.
If the seller has set a “buy now” price, then if you choose the buy now option, you will automatically win the item. If the auction also has a bidding option, you will still become the winner.