A second-bid auction is a system where the highest bidder only pays as much as the second-highest bidder.
Here’s an example:
- You bid 3.0% of your listing price.
- Someone clicks on your listing from a bump slot and then purchases it for $100 within the 7-day attribution window.
- The next highest bidder bid 2.0% of the listing price.
- You’re charged $2 (2% of the $100 listing price) plus the usual selling fees.