How Proxy Bidding Works
- When a user places a proxy bid, our website will automatically bid on behalf of the user by the minimum increment to ensure this user remain leader until the proxy bid is beat.
- A winner with a proxy bid always pays only what is necessary to beat the competition. If the proxy bid entered by the winner is $50, and the current highest bid is $20, with a minimum increment of $1, the winner will only pay $21.
- If there are multiple proxy bids, the highest proxy bid will outbid all other proxy bids, and the current bid is raised to the second highest proxy bid amount. The minimum bid now is the second highest proxy bid + minimum increment.
- A proxy bid will win over a normal bid when they are equal.
- When there are multiple leading proxy bid of the same amount, the one that was placed first wins.
- A proxy bid that is greater than the reserve price when the reserve is not met will automatically bring the current bid to the reserve price. For example: if current bid is $10 with a minimum increment of $1, reserve price is $20, a proxy bid of $40 would bring the current bid to $20.
- If you see a bid increase that is less than the minimum increment, it means someone has placed a proxy bid that has been beat.