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What does outbid by NOBODY mean?

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What does outbid by NOBODY mean?

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It could mean two things: 1) The seller has a reserve on the item and your bid has not met the reserve. You must bid higher if you wish to win the item. 2) your bid is too high- YJ has a rule that the bid must be within 100 times the original amount, so if an item has a bid of 1 yen, you must bid within 100 times the amount and form there you can increase your bid.

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