What is a "Proxy" bid?
A Proxy Bid (often called "automatic bidding") is a convenience feature that allows you to bid without having to watch the auction constantly.
How it works:
Set your limit: You enter the absolute maximum amount you are willing to pay for the item.
We bid for you: Our system will place bids on your behalf, but only as much as necessary to maintain your position as the highest bidder.
You save money: The system will never exceed your maximum amount. If the current price is lower than your maximum, you will only pay the current price plus the minimum bid increment, not your full maximum bid.
Example:
A card is currently at $50.
You are willing to pay up to $100, so you enter a proxy bid of $100.
The system places a bid for you at $55 (assuming a $5 increment). You are now the high bidder.
If someone else bids $60, the system automatically counters for you at $65.
If the auction ends there, you win the item for $65—even though you were willing to pay $100.
This ensures you get the item for the lowest possible price while protecting your top offer.