Maximum bid

I was watching an item on eBay that had received no bids, in the last few minutes of the auction a bid was received and the price of the item was £20, with just seconds to go I put in a maximum bid of £35, I won and had to pay £35. If there were no more bids why didn't I win the item for £20.01? If someone else bid what are the chances that I just beat them to win with my maximum bid? This just doesn't seem to add up, what's really going on? 

View Entire Topic

it means the other bidder placed a maximum bid near  £35, your bid was higher, so you won the item

 

you can see the other bidders maximum by clicking on the number of bids