Why Do we Automatically Bid your Proxy Bid to match the Reserve Price?

In reserve price auctions, if your proxy bid is at least the reserve price, we’ll automatically increase your bid to meet the reserve, and bidding will continue from there.

Example: If the reserve price on a car is $2,500 and you Proxy Bid $3,000 we will System Bid to the Reserve amount of $2500 and stop.

If your Proxy Bid is lower then the reserve we will bid up to your max then notify you that the reserve is not met.

Example: you Proxy Bid at $1,800 and the reserve is $2,500. The software will auto bid to $1,800 and stop. Then tell you that the reserve has not been met.

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Posted on: August 10, 2014