Ok....not that I have all the right answers however I believe what happens is someone bids a really high amount (like maybe 3,000....and in order for your bid to register, you have to overbid them, by going over that amount. I am only guessing that is why, I really don't know why. If anyone bidding or watching knows the answer, please feel free to post it....thanks!
Karen you're correct with your answer to gamebabee about being outbid. Unless the bidder knows the 'high bid' that's already been placed, the only way of being the new high bidder is to keep placing bids until he/she becomes the new high bidder. YAY Karen, ya done good.... lol =} fab stone BTW - love it & you know I'm already your fan, have a great weekend!
That bid that keeps kicking your bid's behind is called a proxy bid . . . at 8:08am Weds. morning, maybe you are in a staff meeting at work and you can't hang out on Listia because keeping your job is more important than trying to snatch up this pendant, so you place a PROXY BID - - you bid the highest amount that either you can afford or are willing to part with to obtain the pendant.
The system only shows the amount of your proxy that can beat out the next highest amoung bid. SO if your proxy bid is, say 1066 credits, but the current high bid when you placed it was just 302, then only 305 credits out of the 1066 will be shown on the auction page. The remaining 761 credits are being held in reserve by the Listia system to counter any subsequent bids that are less than 1066 credits. So you see, that reserve is only tapped a bit at a time as other people flail themselves against the proxy bid . . . pushing the current high bid amount up to no avail UNTIL someone comes along and bids . . . . 1067 credits.
While your proxy bid is in effect and Listia is holding the remaining credits in reserve to counter subsequent bids, the entirety of the 1066 credits is held out of your account's "total credits" amount - - that is why sometimes your total credit balance is higher than your credits available amount.
If someone betters your proxy bid with a higher amount, the "hold" on that proxy amount, in the example case 1066 credits, is immediately released and those credits are then available to you to bid elsewhere.
Now there are other reasons for using a proxy bid - - sometimes it is just because you really, really, really want it and you will be darned if someone else will take the win away from you without paying a whole bunch. Of course, such a vengeance proxy would require a really healthy credit account and a willingness to really part with alot of that balance.
You place it just like any other bid. It should be the very highest amount that you are willing to pay for the item. That can be anything from the amount of the starting bid, or the current bid amounts, to all the credits you have in the Listia bank - - which IMHO is fool-hardy because there is nothing for which it is worth going broke.
If you make it too big a bid, you may not be able to bid in other auctions until the one with your proxy bid is finished.