If somebody were to after me attempt to bid $10 then they would be told that they didnt exceed the maximum bid.. would I have to pay $10 or just $3.50?
If you bid $50 you could very well end up paying that amount. Only bid that amount if you are willing to pay it. Sometimes when someone really REALLY wants something they will overbid it like that... but that is because ultimately, that is what they are willing to pay. If someone bids $10 on it then the price will go up to $11. If no one else bids on it, then that is the amount you will pay - $11. As the price gets higher the amount necessary to win the bid above the previous bid also goes up. In any case, no, you will not get to pay $3.50 for it, you pay the highest bid price - which includes your price ( so if someone bids $10, your bid is automatically something like $11, an it goes up like that).
Also note that you may not be the only one bidding up like that. Particularly if it is an expensive item and easily worth a lot more than the current bid. Someone else could bid $40 on it... and when you bid $50.. the bid will automatically go up to like $41. And if that person had bid $70, then the bid will jump up to $51 and the other person will be currently the highest bidder.
If you bid $50 you may or may not end up paying $50. Depends if someone bids more than that. If not, and no one bids $50 you win the item at the highest bid below yours.
If someone else bids $50 then automatically the price could be at that amount which for an item such as a remote control would be silly.
You would have to pay $50 because that is what you bid.
You would have a LEGAL obligation to pay the $50.
The seller (and eBay) would both sue you for fraud if you did not "cough up"...and they would additionally sue you for THEIR legal costs...
