All About Bidding - Proxy Bids/Automatic Bidding
When you place a bid, you enter the maximum amount you’re willing to pay for the item. The other bidders don’t know your proxy/maximum bid.
The auction software will place bids on your behalf using the automatic bid increment amount, which is based on the current high bid. It will automatically bid only as much as necessary to make sure that you remain the high bidder, up to your maximum amount.
If another bidder places the same maximum bid or higher, we’ll notify you via email so you can place another bid. Your maximum bid is kept confidential until it is exceeded by another bidder.
The current bid for an item is $50.00. Tom is the high bidder, and has placed a maximum bid of $75.00 on the item. His maximum bid is kept confidential from other members.
Laura views the item and places a maximum bid of $90.00. Laura becomes the high bidder.
Tom’s bid is incremented to his maximum of $75.00. Laura’s bid is now $80.00 (the next increment.)
We send Tom an email that he has been outbid. If he doesn’t raise his maximum bid, Laura wins the item.
Proxy bids are especially useful when you are bidding on many items that are closing within minutes of each other.