How do I bid by proxy?
How do I bid by proxy?
I placed a bid it automatically went to my
maximum bid amount rather than the lowest amount!
If the
item has a reserve price, the proxy bid will take you up to the
reserve. If you bid more than the reserve and if your bid is still
under the reserve price, it will take you to your maximum bid as it is
lower than the items reserve price.
For example, an item may be listed for $5.00 with a reserve price of
$100.00 (reserve price is hidden). Someone places a bids $80.00; the
bid will go to $80.00. Say some one then puts in a proxy bid of
$150.00; the bid will go to reserve price of $100.00 and stop. The
bidder will become the highest bidder. If then the person who bid
$80.00 comes back and bids $105.00, the proxy bidder will then out bid
the $105 bid and the proxy bidder will continue to have the highest bid
- up till their maximum bid.
It can sometimes be hard to understand how the entire process works,
although I hope that my example above assists in your understanding.