La Costeña Refried Beans

Auto Extend

If a bid is placed during the last 5 minute(s) of an auction, the auction will be automatically extended for an additional 5 minute(s) from the time of the latest bid. This auction will close once all bidding activity has stopped for a period of 5 minute(s).

NOTE: Current Bid Amount and Countdown Timer are not "live." Click Refresh to update them or to see if the auction has been automatically extended by a last minute bid.

Bid Increment

The bid increment indicated is the minimum amount needed to raise the bid. You are free to bid any amount as long as it is higher than the current bid plus the bid increment.

Dutch Auction

In a Dutch auction the seller offers more than one identical item for sale, so that there may be more than one winning bidder. Each bidder can bid for all the items or only some of them. However, all winning bidders need to pay only the lowest qualifying (successful) bid. If there are more successful bids than items available, priority goes to bidder with the highest bid. If bidders have the same highest bid, priority goes to the bidder who submitted their bid first.

In order to beat a competing bidder, one must bid a higher price per item than that competitor, regardless of the number of items that are being bid for. Here is an example of how this might work:

The seller auctions 5 identical items.

• Bidder "A" bids for 2 items at $20 each.
• Bidder "B" bids for 4 items at $21 each.
• Bidder "C" bids for 3 items at $18 each.

The outcome of this auction would be:

• Bidder "B" wins 4 items at $20 each.
• Bidder "A" wins 1 item at $20 each.

The price is $20 because that was the lowest successful bid.