OV autobidding

someone please explain this scenario

[Adam_C]

Getting stuck into some PPC for the first time. Could someone please explain autobidding. Here's a scenario:

The top bidder has max bid: £10.00

2nd top bidder has max bid: £9.00

3rd top bidder has max bid: £1.00

Lets say only 3 people are bidding on this keyword. Then,

The bidder in 3rd pays £1.00 pc

The bidder in 2nd pays £1.01 pc

What does the top bidder pay pc?

£1.02? £9.01? Somthing else?!?!

[Mardi_Gras]

£9.01

[guddu]

Yes, £9.01

because it calculates £0.01 above the last max bid which has been set to £9.00 by the 2nd bidder. Though he is entitled to pay only £1.01, £0.1 more than the next lower bidder, his maximum bidding for £9.00 would effect the 1st bidder. He has to pay more than that, i.e. £9.01

3rd bidder = £1.00
2nd bidder = 3rd bidder's max bid + £0.01
= $1.00 + £0.01 = £1.01

1st bidder = 2nd bidder's max bid + £0.01
= $9.00 + £9.01 = £9.01

[Adam_C]

I'm told that there's no autobidding on Espotting...

is this true