TYPES OF BIDDING
Bid up to this amount – Maximum Bidding (aka Proxy)
The goal of proxy (maximum) bidding is for you to win the auction item at the lowest possible price by placing bids on your behalf at the lowest possible increments up to a maximum amount you set. Simply enter the highest amount you are willing to pay and the system will bid for you as prompted by other bids. You will be notified by email if your maximum bid is outbid.
You can always increase your proxy (maximum) bid, even when you are the leading bidder.
Note: Bidders are allowed to bid any amount as long as it is higher than the current minimum bid, so there are times when the leading bid may appear to be “off-increment”, but is still a valid bid.
Example: An item’s leading bid is R25.00, and the bid increment is R5.00. If we are running a proxy bidding auction and you enter a maximum bid of R50.00, and there is not another maximum bid, you become the high bidder and the leading bid reads R30.00.
Bid an exact amount
A straight bid will be applied immediately at the exact amount the bidder specifies. It will become the new leading bid unless another bidder has an existing higher bid. As the auction continues, you will be notified by email if you are outbid.
Example: If the current high bid is R10.00, and you enter a straight bid of R150.00, and there is no existing higher bid, you become the current leading bidder at R150.00.