What is proxy bidding?
Proxy biding makes bidding on auctions easier and
less-time consuming for buyers. Proxy bidding comes into effect once the reserve
has met.
If you are the highest bidder when the auction closes,
you are the winner. With proxy bidding when you win the auction you pay only
the lowest possible winning bid, which may not necessary be your maximum bid.
Please note: When proxy bidding is used it may appear as if one bidder outbid another with the exact same bid. This occurs when one bidder has set a proxy bid and second bidder places a bid for the exact amount of the first bidder’s maximum proxy bid. Because the first bidder placed his/her proxy bid earlier, such proxy bid has priority and will be the current highest bid. The second bidder must place a new, higher bid to succeed the proxy bid.
