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What's Proxy Bidding?
OK, so let's say you find something on eBay that you really want....
You're willing to pay $25.00 for it, but the current bid price is only $2.25.
You could take the long route and sit at your computer, outbidding each new
bid until you reach $25.00. (Like you have nothing better to do...!)
Luckily, there's a better way: Let the system be your "proxy" and do your
bidding for you. You can use a proxy in any type of auction except
a Dutch Auction.
Here's how it works:
- The seller lists an item for auction, determines the length of the
auction, and opens for bidding.
- You decide the maximum you're willing to pay and enter this amount as your bid.
- You note the ending time of the auction and log off.
- Your proxy (the system) engages in a fierce bidding war with other
proxy bidders, and a few live oneswhile you go about your business.
Your proxy (the system) will increase your bid in response to higher bids and
will keep doing so up to your confidential maximum bid amount.
- At the end of the auction, you check back in to see how your proxy did.
If other bidders outbid your predetermined maximum, you don't get the item.
But otherwise, you're the winnerand the final price might even be less
than the maximum you had been willing to spend!
NOTE: You can increase your maximum bid at any stage by re-entering your bid
on the listing page.
Winning was never easier!
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