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'Bid It' Guide |
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How does Auto-Bid work?
The Auto-Bid feature provides an extra level of convenience to increase your chances of winning a bid.
For single quantity bids, you can set a maximum bid and the auction4it system will automatically place a bid for that product on your behalf whenever your bid is outbid.
Auto-Bid will bid in the minimum required increments to ensure that you receive the best price.
You can of course select a higher maximum bid if your initial maximum bid gets outbid.
How do I use it?
- Enter your username and password on the Bid Form page.
- Select your bid price from the pull down menu.
- You will have the option of selecting a maximum bid price from the pull down menu. Selecting a maximum bid price will activate the auto-bid feature.
- Winning bid bidders using the auto-bid feature will be marked with a special icon
 on the corresponding product description page.
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Detailed Rules & Key Notes
- The price shown next to a winning auto-bid bidder in the Current High Bidders list is the most recent successful bid. This is not the maximum auto-bid price. All maximum autobid prices are kept secret.
Auto-bid Example
Assume that bidder A is currently winning an item at $11 and has their auto-bid set at $51 (maximum bid).
Now bidder B bids for the same item at $21 (Next required minimum bid to win the item) with a maximum bid of $31.
Auto-bid will automatically increase bidder A's winning bid to $31 to meet bidder B's maximum bid of $31.
Since bidder A had an auto bid, bidder A is given preference. Bidder A's screen won't show bidder B putting in the bid as this bid is rejected and bidder B will be notified at that time.
Bidder B will not be the winning bidder for the item. Bidder A will still be the winning bidder with a winning bid of $31.
Now say bidder C bids on the same item at $41 with a maximum bid of $71. Bidder A will no longer be the winning bidder. Auto-bid will automatically make bidder C the winning bidder with a winning bid of $61 required to beat bidder A's maximum bid of $51 (Bidder C's maximum bid is still $71).
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