I was really disappointed in the most recent AMI Auction, and I was wondering if this has happened to anyone else when bidding on an item.

There was an item that I was looking to purchase and I placed a bid on the last day of the auction. There were no bids on the item. So I placed the minimum bid on the item. Much to my surprise two minutes later, I recevied an email telling me that I was out bid. So, I debated about placing another bid. Some time went by and I increased my bid. I was told that I was the high bidder. Then two minutes later I receveid another email that I was outbid again. I reached my max on the item and said forget.

I went back to the item after the auction closed to see what the final sale price was and it now shows no bids and no sale price.

Has this happened to anyone else? Are these auctions set-up as a min bid and THEN a min sell? Anyone have thoughts on this?