how does knockout round work in transfer?

[hullabaloo]

how exactly does the knockout-round work during transfers? When do you end with the winning bid if you are only two left?
Do you have to keep on bidding in every new round until finally the other person stops bidding (and thereby wasting loads of tokens) ?

[dv8r]

Basically, if you're the only bidder in that round you win. Or if you're the highest bidder from the previous round and no one bids in the current round, then you also win.

If more than 1 person bids in a round, it will go to another knockout round.

[PricopGeorgeCătălin]

Like you said here: Do you have to keep on bidding in every new round until finally the other person stops bidding (and thereby wasting loads of tokens)