I bid an amount, but another bidder was still in the lead at the exact same price?

Your bid was accepted, however most likely another bidder already had already placed a bid for the exact same price.  In the example below, bidder 225743 had the exact same bid as the second place bidder (159287).  Since BN 225743 placed his bid first, they remain in the lead.   

The reason that 2 bids can be the same amount is because of the use of max bids.  All bids place on K-BID can be placed as a max bid, or a price higher than the next required bid that the user is willing to spend.  This amount is hidden from other users and will act as a bid against number against other bidders.