Lost bid to a lesser one??

[oscar2tortoise]

I placed the highest bid at £162 but lost out to another bid of £158.  Can anyone explain this please.

[sml192]

It will almost certainly be because of the Buyer Protection Fee. 

When you place a bid on an item from a private seller it is inclusive of the BPF.  However, when you look at the bidding history the bids shown are exclusive of the BPF.  £158 + BPF = £165 which is, therefore, higher than your bid of £162.