It's not that complicated.
09/02 03:11 7***l places an auto bid for $10, it sits at $9.99
12/02 10:31 6***3 places a bid for $10.50, this maxes out the previous bidder at $10
12/02 12:29 r***r places an auto bid for $50, it sits at $11
12/02 17:43 6***4 places an auto bid for $200, this maxes out the previous at $50 and sits at $51
13/02 09:26:22 you place a bid for $55, 6***4's auto increases to $56
13/02 09:26:06 you place a bid for $202.50, this maxes out 6***4 at $200 and you now lead the bidding
Yes, you are right - AM/PM thing messed it up, but that's correct sequence... It would be too obvious - but now when I think of it - since e-bay charges a
percentage of sale, it's in their interest to get the highest price possible. When you enter auto-bid value, it's pretty easy to manipulate bidding process,
since you can't see actual account names (and links can point to basically anything). Say, you enter $500 as your maximum bid, algorithm can decide to
create a few fake bids and pump out more money from you than you should actually pay as long as the final amount is less or equal to $500.
You do it randomly, with various end-price differences and at various times, so there won't be visible pattern. Randomize the whole process good enough
and buyers would not be able to spot it, sellers does not care since they will get more money for their stuff and everybody is happy... Best of all - you can't be caught !
Of course, if buyer is not using auto-bid then the whole scheme falls apart, but I guess there's a lot users using auto-bid, as you normally cant' spend the whole
day looking at e-bay.
Or I am just paranoid?