What is a PROXY BID OR MAXIMUM BID?
A. Basically you enter the most you would be willing to pay and as other users bid on the item, the Auction will automatically bid for you again (in stated bid increments) all the way up to the amount of your maximum bid. Example: Someone has bid $200 on an item in which you are interested. You are willing to pay as much as $400 for the item, but dont want to bid that high unless forced to. You enter a maximum bid of $400. The auction will record your bid as $205. If someone were to bid $250 on the item, the auction would automatically enter a bid for you of $255, and keep doing so each time someone bid over you, up to the maximum of $400 you authorized.
