1) “Bid Increment” – Each auction features its own “Bid Increment.” Only bids that meet or exceed this minimum increment are accepted.
2) “Proxy Bidding” – *ACTIVE ON ALL AUCTIONS* The automated system bids on your behalf against all competing bids until your “Max Bid” is reached.
3) “Max Bid” – Your “Max Bid” can be increased at any time without effecting the “Current Bid” price. (You CANNOT outbid yourself)
- -EXCEPTION- *RESERVE AUCTIONS ONLY* When the Reserve Price has not been met, you can continue to increase the “Current Bid” until the Reserve Price is met. Once met, you can no longer outbid yourself.
4) Breaking Ties – Ties between Max Bids are decided in favor of the member who submitted the bid first.