Where did my bid go? (Max Bid)

All bids placed are in the max bid format.  A max bid is the highest amount a bidder is willing to pay for a lot. Bidders are not privy to another bidder's max bid.

When a bidder places a max bid on a lot, the software bids for them by increasing their high bid incrementally every time another bid is placed on the lot, until their max bid is reached.  

Examples: 

• Starting bid price for an item is $5.00.  Bidder 55555 places a $100.00 bid on an item and no other bids were received and the auction closes.  Bidder 55555 will remain the high bidder at $5.00 and the rest of his max bid will be unused.  

• Starting bid price for an item is $5.00.  Bidder 55555 places a $100.00 bid on an item and becomes the high bidder at $5.00.  Bidder 66666 then places a bid of $50.00 and is notified "Bid Received; Higher Bid Exists."  Bidder 55555 will remain the high bidder at $51.00 (Assuming the minimum bid increment is at $1.00).