Hello, happy new year!
I'm very new here and I was reading this thread for the past couple of weeks which helped me a lot so adding some more data point

I flew:
ET812 ZNZ-ADD (S) - min bid was USD260 but I didn't bid as it was only a 2 hour flight
ET638 ADD-SIN (S) - min bid was USD 470, I put in a bid for USD 475

The bidding cleared when I was still in the air during the first sector (ET812) and got the confirmation email after I connected to the wifi at ADD during the transfer security screening.
I proceeded to Business Class lounge and the staff were very kind to issue me a new boarding pass there (they even asked if I wanted window or aisle which didnt matter as I got a neighbor free flight)
Seemed to have bit of issue with the process so asked me to go inside the lounge first, and they brought the new BP 10 or 15 mins later.

Boarding pass was issued as Z-class and original S class miles were credited to my SQ Krisflyer account around 2 days later =)