Proxy Bidding can save you time and help you ensure you get the items you want. With Proxy Bidding you don't have to constantly monitor your auctions and worry about being outbid!
Proxy Bidding is an automated 'agent' that you authorize to act in your place. This 'agent' will bid as little as it is necessary (minimum bid increments) to outbid other bidders and maintain your position as high bidder, up to the maximum bid you have entered in the bid box. This is how it works:
- In the Bid box of a specific auction, enter the HIGHEST bid you're willing to pay for the lot.
- Liquidation.com will now place a bid at the current LOWEST minimum bid.
- If another bidder outbids your LOWEST minimum bid, the Proxy Bidding agent will automatically place another bid on your behalf at the minimum bid increment necessary to ensure you're the winning bidder.
- The Proxy Bidding agent will continue to make the LOWEST minimum bids on your behalf up to the maximum amount of your bid until you are the winner, or another bidder makes a bid higher than your Proxy Bid.
- If your Proxy Bid is outbid, you will be notified via email. At this time, you will be able to enter a bid or a new Proxy Bid by following the same initial steps described above.
- If you are bidding on a Standard Auction, your maximum Proxy Bid is kept secret from all other users until your maximum bid is outbid. There is no Proxy Bidding in a Dutch Auction.
- Think carefully before making a Proxy Bid. Once you enter your Proxy Bid amount, you cannot retract it.
