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| Proxy Bidding | |||
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When you place a bid, enter the maximum amount you are willing to pay for that item. Your maximum bid will always be kept secret. Whenever someone else places a bid, our auction software will automatically enter the lowest possible bid for you, incrementing your bid upward until your maximum bid has been reached or exceeded. This process continues until you are the winning bidder, or the highest bid exceeds your maximum bid. If you are the high bidder at the end of an auction, you are the winner. As the winner of an auction, you pay the lowest possible winning bid, which may be less than your maximum bid. With Proxy Bidding, it can appear as if one bidder has beat another bidder with a bid of the same amount. This is normal, and occurs when a bidder has a proxy bid in effect and a second bidder enters bid at the same amount as the current proxy bid. Since the proxy bid was placed earlier in the bidding history, the earlier proxy bid is the bid that will succeed. For the second bidder to succeed in placing a bid, he/she must bid higher than the currently dominant proxy bid. |