How can I place a Proxy bid?Updated 7 months ago
Depending on the current bid of an auction it will fall into a set incremental bid amount, this is a set minimum amount that must be added to the current bid in order to place another bid.
Here is a full list of our incremental bid amounts and ranges;
Here is a full list of our incremental bid amounts and ranges;
- GBP 0.00 To GBP 2.00 Price Increment Gap will be GBP 0.20
- GBP 2.00 To GBP 5.00 Price Increment Gap will be GBP 0.50
- GBP 5.00 To GBP 15.00 Price Increment Gap will be GBP 1.00
- GBP 15.00 To GBP 30.00 Price Increment Gap will be GBP 2.00
- GBP 30.00 To GBP 50.00 Price Increment Gap will be GBP 3.00
- GBP 50.00 To GBP 100.00 Price Increment Gap will be GBP 4.00
- GBP 100.00 To GBP 150.00 Price Increment Gap will be GBP 5.00
- GBP 150.00 To GBP 500.00 Price Increment Gap will be GBP 10.00
- GBP 500.00 To GBP 1000.00 Price Increment Gap will be GBP 20.00
- GBP 1000.00 To GBP 2000.00 Price Increment Gap will be GBP 30.00
- GBP 2000.00 To GBP 4000.00 Price Increment Gap will be GBP 50.00
In order to place a Proxy Bid, the bid will have to be equal to, or greater than the following formula:
Current Bid + (2 x Incremental Bid)
For example:
Current bid - £42
Incremental bid for £30 to £50 - £3
Minimum bid to be considered proxy - £42 + (2 x £3) = £48
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