Proxy bidding is a feature that is used on all BidCorp.com Auctions. This means that a bidder can submit a maximum bid amount and our system will act as a proxy bidder in their absence, placing updated bids for them while trying to keep the bid price as low as possible. This way, when you are bidding, you do not have to be at the auction every minute monitoring your competition.
Proxy bidding is the equivalent of you hiring someone to bid on your behalf. An example would be your having a friend attend an auction for you to bid on a picture. You instruct your friend to bid up to, but no more than $50 dollars for the picture.
The bidding for the picture begins at $10 dollars. Your friend would bid $11 for you. Then if another bidder bids $12 dollars your friend would bid $13. This would continue until you had won the item, or the bidding exceeded $50 dollars.
Proxy bidding at BidCorp.com makes this process easy for you. BidCorp.com stands in and would act as your friend did in the above example. If the highest amount authorized in your proxy bid is exceeded by another bidder, you will be notified and will have the opportunity to enter a new proxy bid if the auction is still open.
For more information about Auctions and Bidding, go to our auctions FAQ page.