Germany. A 1937 General Erich Ludendorff - Feldhernn Commemorative Coin, by the Official Vienna Mint

Your maximum bid should be the highest amount you're willing to pay for an item.

Your entered maximum bid will not be disclosed to the seller or other auction participants at any point.

If the current auction price is $100 dollars and you place a maximum bid of $120 dollars, the system will bid $101 dollars on your behalf.

If no other participant places a bid, you win that auction lot for $101 dollars.

If another auction participant places a bid of $110 dollars, the system will subsequently place a bid of $111 dollars on your behalf. The system will continue to bid in $1.00 dollar increments until your maximum bid of $120 dollars is exceeded.

If another auction participant places a bid for $125 dollars, the auction lot price will display $121 dollars having exceeded your previously submitted maximum bid by $1.00 dollar.