Proxy Bidding is a feature available for Online Items only and allows the system to manage a bidder's bid to ensure that they remain as the high bidder for as long as possible. It provides a bidding mechanism to keep their actual bid as low as possible yet provide a path to remain the winner. With proxy bidding, if you are the highest bidder, then upon the auction's close, you become the winner. As the winner, with proxy bidding, you will only pay the lowest possible winning bid, which may not actually be the maximum amount you bid for an item.
Many people are familiar with proxy bidding from websites such as eBay which use it in their auctions. Also see Proxy Bidding Rules to learn more about its rules and limitations.
The "Proxy Bidding" defaults are set under Website → Online Bidding
You can control whether Proxy Bidding is available and what is the default
- 'Yes, on by default' then proxy bidding is available for online items and checked by default.
- 'Yes, off by default' then proxy bidding is available for online items but not checked by default.
- 'No' then proxy bidding is not available