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An auction bid is not like purchasing an item in the traditional sense. The bidding system allows you to speculate on the market value of an item and assign a dollar amount that is congruent with your budget. For example, you may come across an auction in progress where the current price is $10. You may speculate that no one will bid over $15 for the item, so you might consider bidding $15.01, so as other users bid on the item, they’ll see that their new increased bids are below the current max bid and give up. How badly do you want or need the item? It’s easy to increase you maximum budget in the heat of bidding over a hot item, so be sure to consider this before entering your maximum bid. Once the auction is nearing a close, you may find that you’re bid of $15.01 has been out bid and you may be tempted to enter a new bid that’s over your previously established budget amount.