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@Dutch_Cheese
It's an auction site.
The seller can ask whatever he wants, but interested buyers can place their bids as high or as low as they like.
It's all very free and open. Even when you placed the highest bid, you are still allowed to cancel, retract or ignore it. On the other hand, the seller can decide not to sel the item, despite you are the highest bidder or offer more money that originally requested.
Usually, interested buyers place their bid (always a bid higher that the highest bid at that moment). If your bid is topped by another one, you can place a new bid if you like.
There is no fixed ending date.
If the seller thinks that the bid is okay, he can decide to contact the bidder and close the deal.
If the bids are still too low (in the sellers opinion), he can leave the ad and hope for higher bids.
Simple as that.
More or less everything allowed. For seller and for buyer. Never any obligation.
But there is also a trap. People are not obliged to tell the trush and to make serious bids.
It's sometimes a bid like a swamp, but in practice, it all really works, A couple of your agon, Marktplaats was acquired by Ebey, because of Marktplaats' success in NL.
Glad to help you out if necessary.