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Land Auctions... How does the Bidding Software Work?
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Question
Doran Carter
Hi all,
I hope I’ve posted this in the right section.
I plan to bid on some land in the Linden Labs Auction Site, I have read the Auction FAQ a good few times, but I’m still a bit confused about the way the software works when you put in a bid.
In the FAQ it says, and I quote, “We recommend that you make your bid using our Automatic (Proxy) Bidding functionality.”
Please consider a plot of land has 1 bid for, say, L$1000.
Should I put in a bid for L$1050, then wait for the other bidder to bid again?
Or... Do I put the upper limit of what I can afford, say L$9000, then will the software automatically put in an initial bid that is a little higher than the current bid, but only just. If a higher bid is submitted after that, will the bid software then automatically bid again a bit higher on my behalf?
In short, do I bid just a little higher each time, or do I put in just one bid at my highest limit?
Thanks for any advice anyone can give.
Doran
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