Why did the winning bid win the auction if it was only $ .02 over my bid and not the minimum bid increment?
The bid increment amount is added to the current item price, not to the current maximum bid amount, to determine the next minimum bid for an item. Because of this, it is possible to be outbid by less than the bid increment amount.
In the example below, after bidderB placed their bid of $15.00, they became the high bidder but the item price only increased to $9.00 so the next minimum bid only needed to be at least $10.00. bidderA then placed a bid of $15.02, a valid bid since it met the minimum of at least $10.00. Since bidderA's bid amount was higher than bidderB's bid amount, bidderA became the high bidder.
Complete Bid History (All Bids)
Bidder Bid Amount High Bidder Item Price Time of bid
bidderA $15.02 bidderA $15.02 4/11/2006 7:44:46 AM
bidderB $15.00 bidderB $9.00 4/11/2006 6:28:54 AM
bidderA $8.00 bidderA $7.01 4/9/2006 11:56:11 PM
bidderB $6.01 bidderB $6.00 4/6/2006 8:30:12 PM
bidderA $5.00 bidderA $5.00 4/6/2006 6:56:07 PM
Last Updated: 7/23/2018