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What is increment bidding?

"Increment bidding" refers to the minimum amount an auction bid must be raised each time the current highest bid is surpassed.  The increment is determined by the value of the most recent bid.  See below:
 
Current Highest Bid
Currency
Minimum Bid Increment
≤500
USD/GBP/EUR
10
>500 - 2500
USD/GBP/EUR
50
>2500 - 10,000
USD/GBP/EUR
100
>10,000 - 25,000
USD/GBP/EUR
500
>25,000 - 100,000
USD/GBP/EUR
1000
>100,000 - 500,000
USD/GBP/EUR
2500
>500,000
USD/GBP/EUR
5000

For example:
 
  1. Using proxy bidding, Buyer 1 places a maximum bid of 210 USD.
  2. The increment bidding system will automatically place bids on Buyer 1’s behalf up to 210 USD.
  3. When Buyer 2 places a maximum bid of 200 USD, Buyer 1’s bid will be automatically increased to 210 USD.
  4. If Buyer 3 places a bid of 220 USD, they will become the highest bidder because they have surpassed Buyer 1's maximum bid.
  5. To continue, Buyer 1 must enter a new maximum bid, which meets or exceeds 230 USD, via the Buyer Control Panel.
  6. If Buyer 1 has a proxy bid of 500 USD, our system will automatically bid 230 USD for them.
Increment bidding will only take effect once the reserve price has been met.

 

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