Change in bidding amounts

[2Clueless]

Bids on house I’m interested in had been going up in intervals of five thousand (2 bidders). Opposing bidder just bid two and a half k. Is that a sign that they are getting close to their limit? Should I stay with bidding in 5?

 

[Leo]

Is that a sign that they are getting close to their limit?

Usually, yes. They may just have wiggle room to go one more round, so a 5k might push them to their limit.

 

[myate]

You really never know with other bidders. We were involved in a bidding process a while ago and no matter what amount we went up (once 6 or 7k, another time 5k before bringing it down), other bidder just went one thousand more, everytime! Finally reached our limit and went €500 more, other bidder went €500 more. Let them have it at that stage & it was way over priced...was over €25k over asking.