Bidding on Proxibid

This article provides important information and basic guidelines for bidding on Proxibid.com.

This article contains the following sections:

• About Bidding
• Types of Bids
• Extended Bidding
• Remove or Lower a Bid
• Group Lots

About Bidding

Placing any kind of bid in an event is a commitment to purchase the item from the auction company in the event that the bidder has the highest bid. It is important that potential bidders thoroughly read the Terms of Sale for the auction before placing any bids.

The Terms of Sale will outline important information, such as:

• Taxes applied to purchases
• Fees applied to purchases
• Acceptable payment methods
• Deadlines for making payment
• Deadlines for picking up items won, if applicable
• Shipping information, if applicable

Whether a bidder is a new or experienced member of Proxibid, there are a few things to keep in mind:

• Read the item's description and review images of the item thoroughly before placing any bids.
• Digital images and descriptions can vary in clarity.
• Contact the seller directly to learn more about the traits of a specific item not addressed in the item's description.
• Proxibid monitors pre-bid retraction requests to prevent abuse.

Types of Bids

Once a bidder has successfully registered for an event, they can place bids on any of the lots in the event. There are 3 types of bids: 

1. Pre-Bids (for Live or Timed Auctions)
2. Maximum Bids (for Live or Timed Auctions)
3. Live/Instant Bids (for Live Auctions only)

Bids are usually in standardized increments established by the auctioneer or auction company. 

Extended Bidding

Most Timed auctions will have a period during which bidding is extended. When a bidder places a bid on an item in the last moments before the item closes, the timer will extend to allow counter-bids to be placed. Extended bidding will continue until bidding on a particular item ends. Extended bidding ensures the bidder willing to bid the highest wins.

Remove or Lower a Bid

If a bidder needs to have a bid removed or lowered, Proxibid will attempt to assist as long as:

• The event is not Live
• Ample notice is received
• Removal has been approved by the Seller

To remove or lower a bid, please contact Proxibid directly. Bid adjustments are not only time sensitive but, in many cases, the Seller may need to be contacted to confirm that the bid can be adjusted.

Group Lots

Single items can be sold in groups. There are three different types of groups:

1. All One Money: All items in the group will be sold for one price.
2. Times the Money: The final bid amount is multiplied by the quantity of items.
3. Choice: The high bidder can choose just one item or multiple items for the winning bid price, multiplied per piece they choose.