The Irrelevant Silent Auction Bid

This blog is written mostly tongue in cheek. Some points may be informative. Please provide your feedback.
If you suffer from self-irrelevancy, please seek professional advise.

Hello. Memories of silent auction bidding are going through my mind. I've been at two events in the past 3 weeks with silent auctions. I've seen bidding at our fundraiser for 8 years. Here's what I've discovered.
There are quite a few people who will bid $80 on an item they'd spend a maximum of $100 for. Then when they are unable to raise a person's $90 bid in time (prior to the close), they lament how they would've paid $100 for it.
In the above example, the $80 bid was irrelevant. Why? Because it wasn't the person's best bid. They should've asked what their best bid was (in this case $100) and bid it. That way they either get the item for what they were willing to spend, or not get it because someone else paid what they were not willing to spend.
So why bid $100, when they might've gotten it for $80? More tomorrow.

Regards,
Irrelevant