Terms & Conditions

Auto-Bid Function

Auto-Bid Function Explanation:
The auto-bid function allows the system to bid on your behalf.
It doesn't automatically place your highest bid but follows certain rules.

Example Scenario:
If a Lot is priced at 50(amount) and your auto-bid is set at 450(amount):
- The system won't immediately bid 450(amount).
- Instead, it will start by bidding the next available increment, which is 60(amount).
- If the bid closes at 60(amount) and you're the highest bidder, you win the Lot.
- If someone outbids you at 70(amount), the system will raise your bid to 80(amount).
- This process continues until the system reaches your auto-bid amount.
- If your bid is 450(amount), and someone else's bid is also 450(amount), the system will raise your bid to 450(amount).

Higher Auto-Bid:
If another user sets a higher auto-bid (e.g., 800(amount)), the system will ignore your 450(amount) auto-bid.
The system always favors the user with the highest auto-bid for a specific Lot.

No Consecutive Auto-Bids:
The system won't automatically outbid someone if your auto-bid amount is the same as theirs.
Example 1:
Your auto-bid is 450(amount), and a user bids 350(amount). Your auto-bid raises it to 400(amount). If the next bid is 450(amount), the system takes the user's bid.
Example 2:
If a user bids 400(amount), and your auto-bid is 450(amount), you will be awarded the Lot because your auto-bid is the highest.

Important Note:
Regardless of the item's reserve price, you're responsible for your auto-bid.
If your auto-bid is 5000(amount), and the system reaches that amount through active bids, it will be considered the highest bid.


Bid is calculated as: (See example here)

Your Bid + Commission %
+ {{companydetails.data.query1[0].vat_system}}(* if applicable)

See our T&C's