Proxy Bidding - Placing a Maximum Bid
Our platform uses proxy (automatic) method of bidding.
You can place a maximum bid for an item and the system will bid for you up to your maximum bid. plus a defined increment."
Examples of how proxy bidding works:
- You put in the maximum amount you would bid up to.
- If a lot does not have any bids and you enter $30 as your maximum then your bid would be $1.00. If no one else bids then you will win the lot for $1.00.
- If someone else bids $13.00, the system will bid for you automatically and increase your bid amount to $14.00.
- If someone bids $31.00 or higher, this means you are outbid. The system will not bid higher than your maximum bid of $30.00
- When outbid the system will send you an email to notify you.
- You can increase your maximum bid at anytime before the lot ends.
- If someone bids the same amount, the first bidder for that amount will be the winner of the lot.