What is an AutoBid and how does it affect my bidding?
An AutoBid, also called a proxy bid, is a bid placed on behalf of a buyer by 24-7 Realtime Auctions. The AutoBid feature allows buyers to outbid other bids without having to be online. With an AutoBid, the buyer specifies the price for the next bid and the highest bid. 24-7 Realtime Auctions automatically places the next bid and increases it by the bid increment until the bidder either wins the bid or his maximum price is reached. This method and the maximum price remain in effect until the end of the auction or until the user changes his maximum bid. Any new bids made by other users automatically activate the AutoBid function for the buyer. The maximum bid placed by a buyer is never disclosed to other users and the system will always use the lowest bid necessary to win the auction. If an AutoBid is placed for you, you will be notified by email.
