Okay, let's say that a sniper DOES bid during the last five minutes. And, let's say that I was high bidder at $15 before he bid. My proxy bid limit, which nobody knew about, was $35. And, when the auction ends, the sniper is high bidder at $36. My last bid, which was automatically increased when the sniper bids, is $35. Are you going to let me have the chip for $15 or $35? Keep in mind, if the sniper hadn't bid during the last 5 minutes, I would have won the auction for $15.
|