By activating proxy bidding, you allow the system to automatically rebid on your behalf whenever a competing bid price beats your bid price.
In an auction that includes more than one line, you can proxy bid on some lines and bid manually on others. You cannot proxy bid on any lines that have cost factors.
Proxy bidding is discouraged with large negotiations and is disabled for very large negotiations.
To activate proxy bidding: When you place a bid on an auction, you can enter your proxy bid information in the appropriate fields on the Create Bid page. Use numbers, for example, 10.75. To submit a proxy bid for any auction line, you must provide the following information:
Note: If at any time you wish to change your proxy bid information, you can cancel your proxy bid and submit a new bid with the updated proxy information.
Proxy Bid Decrement You must enter the exact amount by which you want each of your proxy bids to decrease. The Proxy Bid Decrement field will indicate whether you can enter the amount as a percentage or monetary amount (this is determined by the buyer). Your proxy bid decrement amount is based on the current winning bid in the auction, not your own current bid. For example, if you have submitted a $3,500 bid in an auction with a proxy bid decrement amount of $100, and a $3,400 bid is subsequently submitted, the system will automatically submit a proxy bid of $3,300 (current best bid of $3,400 - your proxy decrement $100) on your behalf.
Proxy Minimum Bid You must enter the lowest price you are willing to proxy bid for any auction line. Whenever your bid price is exceeded by a competing bid price, the system will continue to automatically rebid (by the proxy bid decrement amount you specify) until your proxy minimum bid price is met.
Note: After you have submitted your proxy minimum bid amount, you cannot change this amount unless the minimum amount is met in the auction bidding or you cancel the proxy bidding on the line.
Proxy minimums are specified at the lot level. They do not apply at the lot line level.
When bidding on an auction that contains more than one line, you can proxy bid on all or selected lines. Enter your proxy bid decrement amount, then enter a proxy minimum bid only for those lines on which you want to proxy bid. You cannot enter different proxy bid decrement amounts for each line.
If the bidding on an auction line in which your proxy bidding drops below your proxy bid minimum amount, automatic proxy bidding is discontinued. You can then do any of the following:
Enable another round of proxy bidding for the line Enter new proxy bid information. You can change your proxy bid decrement if all lines on the bid do not have proxy enabled. You can also change the proxy bid minimum amounts. Then submit the bid as normal.
Bid manually on the line Continue bidding on the line by submitting bids manually.
Discontinue bidding on the line