# Auctions and bidding

• Someone please explain to me why cannot we see the last bid in the auction house? Why do I have to guess my way up from 260 silver to 4100 jumping by the hundred on occasions to finally find what the last bid was? How does that make sense? Why is it a secret? And then I get outbid and the guessing game starts again? What is the purpouse of this arrangement? To discourage bidding? Or to lose patience and overbid by much more than necessary? I don't understand...

• It is to enable you to set a maximum price, that you are willing to pay - without having to pay it.

Imagine you want to buy an artwork and are willing to pay 5000 silver for it, but the current bid is only 200 silver.

With the current system: You bid 5k silver, but currently shown are now that you bid 201 silver. If somebody is willing to pay more than 201 silver, let's say 1k silver, he bids 1k silver. System recognizes the bid, knows that you would bid up to 5k, therefore you still have the bid, but now at 1k. At the end of the auction you get the artwork for 1k (despite having bid 5k).

If the system was the same but one could see the maximum bid, one could easily bid 4999 silver, such that you have to pay much more, even if the other bidder wasn't even willing to buy it for 4999

Without the "bid more than you need"-system, you would have to pay as much as you bid. But you wouldn't bid 5k then in the first place, but only e.g. 250 silver. Next one would bid 300, you would bid 350, next one 400, and after 2 years you reach 1k and the other guy says "eh fuck it" and you get it for 1k.

• Okay. What you're saying is that the highest bidder will win the article for the price that the second highest bid sets?

• Yes. Or, interpreted differently, you can tell the system "I want to bid up to 5k" and it will automatically bid for you until 5k are reached, if someone else bids aswell.

• No I have just one more question: why isn't this explained anywhere? I would've saved me a lot of hassle and anger...

• it's how an auction works, you would never know the "reserve price"

it's the gamble you take when you decide you want to try and bid on an item that already has bids on it (it could be 20 it could be 20,000)

another senario .....

imagine if you saw the item listed at 20k ..... you wouldn't even bother bidding on it as you know you wont pay that price

then the player that put the first bid on it, would get it super cheap because everyone already knew the max price & avoided it

(meaning the auction generated no revenue)

• The auction system is similar to ebay I think, so maybe that's why nobody bothered. But trying to find a justification for missing documentation is tilting against windmills. Docu is garbage, game is good.