You leave your "maximum" bid price that you're willing to pay. The system will place your bid at the lowest price within that range. If someone else bids and your "max" is still higher, the system will increase your bid to the next higher bid price in fixed increments. If the next bidder outbids your max then his bid will be the highest bid. They may also place a "max" just like you. In this case the system will automatically bid the lowest possible bid for you to secure that first place. And the process continues til the auction closes.
Haven't Ebayed for awhile now. But that's my last recollection of it.
Haven't Ebayed for awhile now. But that's my last recollection of it.