What is proxy bidding? How does it work?
Essentially, when you bid, you aren’t telling eBay how much of a bid to place. You are actually informing ebay as to the maximum amount you are willing to spend on this auction. The actual bid placed by eBay’s bidding system is either the minimum amount for the auction (if you are the first bidder) or one bid increment above the previous high bidder. In the event someone else bids, eBay will increase your bid up to your maximum to keep you one bid increment above the other bidders. If another bidder exceeds your maximum, they become the high bidder at no more than one bid increment above your maximum bid. EBay gives some very good examples at http://pages.ebay.com/hel….prxy.html.
Essentially, when you bid, you aren’t telling eBay how much of a bid to place. You are actually informing ebay as to the maximum amount you are willing to spend on this auction. The actual bid placed by eBay’s bidding system is either the minimum amount for the auction (if you are the first bidder) or one bid increment above the previous high bidder. In the event someone else bids, eBay will increase your bid up to your maximum to keep you one bid increment above the other bidders. If another bidder exceeds your maximum, they become the high bidder at no more than one bid increment above your maximum bid. EBay gives some very good examples at http://pages.ebay.com/help/buyerguide/bidding-prxy.html.
A proxy bid is a way for members to enter a bid on an item and not have to watch the listing and continually increase their bid. It is the maximum amount you are willing to pay for the item. Your proxy bid amount will be hidden from other bidders until the maximum amount is reached. For example, you place a proxy bid for $50 on an item that is currently at $30. Your winning bid will be viewed as $31 by other bidders in the Bid History page. When other bidders place bids above $31, your bid will automatically increase by $1 until it reaches the maximum amount. When another bidder enters a bid of $50, your bid will take priority over that bid since it was placed first. If another bidder places a bid for $51, your proxy bid will no longer be winning.
