This page explains in detail how proxy bidding works on this website:
Definitions:
1) minimum bid = must always be either the seller's minimum bid amount, or the last bid plus the 1 euro bid increment.
2) active bid = is placed by the user and it will always be equal to or greater than the current minimum bid. If the active bid amount is greater than the minimum bid, then that amount becomes the proxy bid limit of that user for the item.
3) proxy bid = is a bid placed by the system on the bidder's behalf as a counter bid to competing bids for the same item,
after there has been a competing bid for the same item.
4) proxy bid limit = the numerical value where the system stops placing bids on the bidder's behalf
Please note: The proxy bid system only responds after an active competing bid is placed for the same item.
Scenario 1) When a user submits a new bid that is less than an existing proxy bid limit ...
the system will compare the active bid maximum amount with the existing proxy limit. The system will then record the new active bid at its maximum value. Then the existing higher proxy bid will counter bid and place a bid at 1 euro higher, thus outbidding the active user.
Scenario 2) When a user submits a new bid that is equal to an existing proxy bid limit ...
the system will compare the active bid maximum amount with the existing proxy limit. As they are the same numerical value, the system will preserve the existing proxy bid at its maximum value giving it precedence over the active new bid, as the existing proxy bid was placed first. The active bidder will be advised that he has been outbid.
Scenario 3) When a user submits a new bid that is greater than an existing proxy bid limit ...
the system will compare the active bid maximum amount with the existing proxy limit. The system will then record the active bid at the 1 euro bid increment above the existing proxy bid limit. The existing proxy bidder will have been outbid. Also, the system will save the active user's bid amount as the highest proxy bid limit for the given auction.
For additional information on proxy bidding and bid types click here.
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