If you are not familiar with EBay, auctions work with a max bid per bidder, but the displayed price is the lowest bid that beat the lowest bid by some minimum or matched the initial price. The way it usually works for a popular item is savvy bidders will wait til the last second to bid what they think will win or what they think the item is worth, no matter what the current price is, and the actual price is set by the lowest maximum bid, so if someone bid $10 on a $5 item, the price is $5, then I bid $8, the price goes up to $8 and the initial bidder is still winning. I only bid using an online service that enters a bid 3 seconds before the end of the auction.
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