A proxy bid saves you both time and effort.
As you know, the key rule for online boat auctions is simple: you’ll secure the boat if you remain the highest bidder.
If you want the boat, you need to be the top bidder, and that's where proxy bidding comes in to help!
It’s Easy!
A proxy bid saves you both time and effort.
Here’s how it works:
You simply enter the maximum that you wish to bid for the boat. This is kept confidential at all times.
The system will then automatically bid, by increment, depending upon other bids being made, up to your maximum bid on your behalf.
If there are no other bidders then your proxy is not used and you remain the high bidder.
For example, you decide that the maximum you wish to pay for a boat is $100,000.
The current bid is at $80,000 and is incrementally rising by $1,000 per bid. Once you enter your confidential maximum of $100,000, once another bidder makes a bid of $81,000, your proxy will automatically bid at $82,000.
You will remain the high bidder unless someone bids again and the process repeats until it reaches $100,000 and the bidding continues without your bids unless you set another proxy.
Benefits of Using a Proxy Bid
Don’t need to be present during the auction. The system handles the bidding for you, allowing you to focus on other tasks.
You can avoid the stress of last-minute bidding wars, as the system will automatically place your bids at the right moments.
Other bidders won’t see your maximum bid, which can help you secure the item without alerting competitors.
By setting a proxy bid, you increase your chances of winning without overexerting yourself in the bidding process.
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