Yeah Brum6y. I watched an auction last night & it was still going this morning. The ultimate winner, one of last night's regular bidders won the item but used 1529 bids at 80 cents each. the item was a camera , below are the details;
Price 91.98 AUD
Your bids: 1529 x 0.80 1,223.20 AUD
Shipping & handling 27.00 AUD
Total price (incl. GST) 1,342.18 AUD
GST (10%) 122.02 AUD
Retail price 1349.00 AUD
You save 6.82 AUD
The winning bidder spent $1,223.20 on bids. He must have bid for & won a heap of bids earlier (bid packages are an auction item) to be able to justify the cost or, he is an idiot.
Bidrivals must have made an incredible profit over the course of the night as there were, at times, as many as 6 bidders bidding every 12 seconds using an automatic bidding program, each bid costs 80 cents. Bidrival loss (written in read) went to zero about 8.30 last night & the auction finished at 11.01 this morning.