For bids entered within the BidAsk spread, we use the proxy-bidding process. Our system will act as your bidding agent by entering your bid competitively against other bidders.
You don’t have to worry about sitting at your computer to track the bidding process until the closing.
Proxy bidding takes the stress out of the bidding process, and you are getting the item at the lowest possible price.
How it works
- You can bid the maximum price you would be willing to pay for an item.
- If there are no other bidders on a lot, the winning bid is always reduced to the lowest amount shown in the BidAsk spread.
- If there comes another bid the software will place a new bid following the bid increment every time someone else places a higher bid than you and will continue to do that until the sale ends and you win, or the price goes over your set maximum.
- Your maximum bid is always confidential.
- if the BidAsk spread is $50 - 100 and you place a bid of $ 80, and no other bids exist, the high bid will be reduced to $50.
- If another person places a bid of $55, our proxy system will increase your bid to $60 since that is one increment above the other bid.
Can I increase my maximum bid without bidding against myself?
Yes you can! Your existing Proxybid is shown on your Watch List and in case you want to increase it you simply enter the new bid amount to increase your proxy-bid.
What if someone else bids the same amount as my maximum bid ?
If a bid ties in with your maximum bid, then you will have the high bid because you entered the bid amount first.