Flippa uses proxy bidding in our auction listings, but what does proxy bidding mean?

Summary:

  • Automatic bidding up to your set maximum amount

Detail:

When you place a bid in an auction, you authorise Flippa to bid on your behalf up to the maximum amount entered in your bid. 

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Once your bid is placed, Flippa's system automatically bids in the following increments:

  • If the starting or current bid price is under $1,000, $5 per bid.

  • If the starting or current bid price is under $10,000, $50 per bid.

  • If the starting or current bid price is under $100,000, $100 per bid.

  • If the starting or current bid price is above $100,000, $1,000 per bid.

Once a number of proxy bids are in place, bidding and an increase in the current bid price can happen very quickly since the process is entirely automated.

 

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