PROXY BID (Automatic Bidding)

by EOL Auctions on Sunday, April 17, 2011 at 7:22pm ·

Our automatic bidding system makes bidding convenient so you don't have to keep coming back to re-bid every time someone places another bid.

 

Incremental bidding

Everyone wants to win, but only at the right price. Although we suggest that you bid the maximum amount that you’re willing to pay for an item, you could pay less. As the listing proceeds, our system compare your bid to those of other bidders. When you’re outbid, our system will automatically bid on your behalf up to your maximum bid.  Our system will  increase your bid by increments only as much as necessary to maintain your position as highest bidder.

 

How automatic bidding works

 

When you place a bid, you enter the maximum amount you're willing to pay for the item. Other bidders don’t know your maximum bid.

 

Our system will place bids on your behalf using the automatic bid increment amount, which is based on the current high bid. Our system will bid only as much as necessary to make sure that you remain the high bidder, or to meet the reserve price, up to your maximum amount.

 

If another bidder places the same maximum bid or higher, we’ll notify you so you can place another bid. Your maximum bid is kept confidential until it is exceeded by another bidder.

 

The system will not go higher than your proxy bid and if a tie occurs the proxy bidder will still win the lot unless another bidder exceeds your proxy bid.

 

Example

  1. The current bid for a lot is $500.00.  Ron is the high bidder, and has placed a maximum bid of $800.00 on the lot. His maximum bid is kept confidential from other members.
  2. Mary views the lot and places a maximum bid of $900.00. Laura becomes the high bidder.
  3. Ron’s bid is incremented to his maximum of $800.00. Mary’s bid is now $950.
  4. We send Ron an email that he has been outbid. If he doesn’t raise his maximum bid, Mary wins the lot.

To learn more about Proxy Bid (Automatic Bidding), please contact us at 678.735.5530

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  • Zaira Brumagim, EOL Auctions, Gabor Andrasi and 2 others like this.
    • Anlenny De la Cruz INGRID CUENTAME SOBR ESTO
      April 28, 2011 at 9:06am · 2
    • Ingrid Wightman
      Hola Anlenny. Proxy Bid es ideal si te encuentras de viaje, si no puedes dedicar el 100% de tu tiempo a la subasta o simplemente para ofertar en varios lotes simultaneamente. El servicio de oferta automatica te permite programar el sistema... con el monto máximo que estas dispuesta a ofrecer por cada lote.

      Por ejemplo, digamos que quieres ofrecer en un lote que se encuentra en $500.00 pero tu solo estas dispuesta a pagar un monto máximo de $800.00, por lo que haces la oferta por ese valor, colocandote así en la mayor ofertante. Sin embargo este monto no se hará visible, hasta que otro usuario llegue al monto secreto que has colocado ($800). Si alguien coloca una oferta mayor que la tuya ($850) esa persona te desplaza, pero automáticamente te enviamos un correo electrónico notificandote en caso que decidas incrementar tu oferta.

      Cualquier otra pregunta o duda al respecto por favor no dejes de contactarme al 678.735.5532      See More
      April 28, 2011 at 10:41am · 1