HubSwirl's Information Center A letter from our founder
Search Help
Back to Information Center
What is proxy bidding?
 

An automated bidding system where a bidder may enter a maximum price and the auction system will increase his/her bid as necessary until the maximum is reached.

For example, Bidder A is the first bidder on an item whose starting bid is 1. He/She places a maximum bid of 10, which the system holds in confidence until needed. The system places his/her initial bid. Bidder B places a maximum bid of 8. The system automatically bids for Bidder A and Bidder B until Bidder B's maximum bid (8) is surpassed. Since Bidder A's maximum bid is higher than Bidder B's, he/she remains the high bidder.

Our system automatically figures bid increments.
 

Back to Information Center
 
Still have questions? Contact Us HubSwirl's Home | Print | Add to favorites

HubSwirl- Social Network Hubolu- Social Marketplace Hubspin- Indie Music Hiretree- Professional Services Network
Home | Browse | Register | Post |   Announcements   | Help | Contact Us | Advertising | About | Language