It only shows the high bidder in the list. If I put in a max bid of $300 and it starts out at $100, then you put in a bid of $105, it'll show me as bidding again at $105.50 (or whatever the increment is), then you bid $150 and it'll show me as bidding $150.50, then you bid $175, it auto-bids me again, at $175.50. It only shows the high bidder so the bid history will look like:
DTD $100
DTD $150.50
DTD $175.50
and on and on until you go up over my max of $300. Although it won't show the amounts, just an asterisk. Otherwise if the other person knew what they had to bid to get on top as the high bidder they'd do that or give up and not bid if it wasn't worth it to them, which would be great for the buyer but suck for the sellers. Because in the above example I could put in a maximum of $5000 for an AK and nobody would bid against me since it's not worth that so I end up getting it for $100.