How did someone place a bid outside of the next bid increment?
This will happen when someone places a proxy bid. You can place a proxy bid of any amount greater than the next bid increment. Example – someone else has the current high bid price of $15,000. You place a proxy bid of $16,123. The bidding system will automatically put you in at $15,500 (next bid increment). A competing bidder later comes along and places a bid of $16,000 (next bid increment). Once this happens, the system will automatically put you in at your proxy/max bid of $16,123. Even though the proxy bid ($16,123) is not a full increment ($500) higher than the previous bid ($16,000), the proxy bid was placed before the competing bid was placed and thus will be honored.
