> I still don't get it.
> 
> eBay already lets you enter a maximum price, but the winning bid is set
> by the second highest price plus the auction's increment.

Because when you enter a bid, anyone can manually outbid you, as long as he
has time. The earlier you do it, the more time people have to manually
outbid. If you do it at the last second, no one has time and only automatic
bids can outbid you.


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