Glad you asked!
When you place a bid on a ticket auction, you are establishing two key things: 1) how many tickets you would like to purchase; and 2) the maximum price you are willing to pay for each ticket.
You must place your bid during the event campaign (i.e., the period during which the event organizer is accepting ticket bids for the event). When the event campaign ends, the winning bids will be ticketed at the final ticket price for that event, which is often below the higher bids' maximum amount.
It works this way as CrowdMob is trying to best determine the true market value for the event. The true market value is not necessarily the highest bid amount, but rather the highest amount bidders are willing to commit to for all the available tickets.
Let's say there are three tickets available for an event and five bidders each place a maximum bid for one ticket. Since the key criteria for bid priority are a) maximum bid amount; and b) order in which the bids were placed, the winning bid priority might look a little something like this:
- 1 Ticket; Maximum Bid: $100; Placed: 10:00AM;
- 1 Ticket; Maximum Bid: $60; Placed: 9:45AM;
- 1 Ticket; Maximum Bid: $55; Placed: 10:05AM;
- 1 Ticket; Maximum Bid: $55; Placed: 10:30AM;
- 1 Ticket; Maximum Bid: $20; Placed: 8:00AM;
Final Ticket Price: $55
In the above example, the top three bids will be ticketed at the final ticket price of $55 while the last two will not (and no charges will be applied to their account). Charges to the bidder's payment source will be applied only if they hold a winning bid (and their payment information is current and available).
So, to better your chances of holding a winning bid for an event it's best to bid early and to keep an eye out for email notifications, which we send periodically to keep you appraised of your bid's position.