Home > GC Helpdesk > Auctions, Bidding & Buying

  > What is a Maximum Bid?

GC Helpdesk
All the latest news about GreatCollections, including Press Releases.
Just joined GreatCollections? Here you will find out useful information for new members.
Learn everything you need to know about bidding and buying coins and numismatic products through GreatCollections
Learn everything you need to know about selling coins, bullion and other items through GreatCollections
Learn everything you need to know about notification, form of payments accepted and shipping informations
Information about My Account at GreatCollections and general Membership questions.
Learn more about all of the services we offer at GreatCollections, your full service auction and discounts
Throughout our listings, there are abbreviations about coins, such as VAMs, Overton numbers, pedigree
Learn more about how to contact us regarding our website and coins being offered.

What is a Maximum Bid?

Ian Russell on Wed, Mar 23, 2011 10:55:19 AM
Registered members at GreatCollections can place a confidential maximum bid on any auction.  If there is other bidding activity, GreatCollections will bid on your behalf up until your maximum bid.

For example:  John Smith would like to bid $1,000 on a 1881-S Morgan Dollar, even though the minimum bid is only $650.  John enters his bid and if there are no other bidders, he will win the coin for $650... the minimum bid.

However, if Peter Foster places a bid on the same coin at $800, GreatCollections will bid on John's behalf and John will win it for $825 (one bid above the second bidder).