What is Proxy bidding?
[P]Proxy bidding only applies to Product Auctions.[/P] [P]When you place a bid for an item, enter the maximum amount you are willing to pay for that item. This amount will always be kept in secret. Whenever someone else places a bid, our service will automatically enter the lowest possible bid for you, up to your maximum proxy bid amount, until you are the winning bidder. At the end of an auction, if you are the highest bidder, you are the winner. As the winner of the auction, you only pay the lowest possible winning bid, not necessarily your maximum bid.
Proxy bidding means a bidder can enter a maximum bid amount and the auction will automatically bid in their absence, executing their bid for them and trying to keep the bid price as low as possible. This is helpful because it means a bidder doesn’t have to be at the auction every minute to make sure they are not outbid. When you are the highest bidder and you have been out-bid by another user, you will receive an e-mail notification so that you have a chance to re-enter a new bid amount. If the reserve price is not met on an item you are bidding on your bid will be either the reserve price or the total of your proxy bid if it is less then the reserve price.
The SMSpup proxy bidding system allows you to bid the minimum amount needed to win an auction, but only up to the maximum bid you’ve entered for that auction. This allows you to continue to bid competitively against other users, automatically. Our system recognises that you only need to win by 1 reward point to be a winning bidder, and so, the system will continue to bid up to your maximum bid to be winning the auction unless someone submits or has submitted a higher maximum bid.
Yes, you can bid on items with out attending the Auction! This is your chance to win without being there. Proxy bidding allows friends, colleagues, and guests of UC Davis who are unable to attend a sold out auction to submit a maximum bid amount. Aggie Auction Headquarters assigns official proxy bidders to place bids on your behalf for raffle prizes and silent auction items. Information About Proxy Bidding All proxy bids will be placed 45 minutes into the event to allow attending guests the first opportunity to bid. All proxy bidders will be contacted the week following the auction regarding successful bidding. The form must be filled out with a signature and faxed to Aggie Auction Headquarters at 530-754-1500 prior to Noon on Friday, May 1st.
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.
