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What is an Automatic or Auto Bid Limit?
Posted by bidorbuy Admin, Last modified by bidorbuy Marketing on 11 December 2017 01:15 PM

When you place your bid on an auction item, you will be prompted to enter Automatic (or Auto) bid, which is the maximum you are prepared to pay for the item.

The automatic bid feature bids on your behalf up to the maximum amount that you have specified. It will not necessarily increase your bid amount to the maximum amount you have specified, but only high enough to meet the current highest bid amount. This feature is very useful to prevent getting outbid in the last seconds of the auction before you are able to increase your bid.

To activate the Automatic Bid, enter your maximum bid amount in the "Set an Automatic Bid Limit" box. The system will NOT bid on your behalf higher than the amount placed in this box.

Please note that the Automatic Bid system will only bid for you when you have been outbid or to meet the reserve price at the end of the auction. You will receive an email notification every time the Automatic Bid bids for you.

Following is an example of how the Automatic Bid feature works:

  • The starting price is R100.
  • Bid Increment is R10.
  • Reserve price (not visible to you) is R150.
  • Current bid amount placed by you is R110
  • Automatic bid placed by is R200.

In case someone bids higher than your R110, Automatic Bid will bid for you by matching the competitor's highest bid, providing that is below you automatic bid limit of R200. In case nobody else bids more than you and the auction is about to close with the reserve price of R150 not being met, then Automatic Bid will bid R150 to meet the reserve price (because this is still below the R200 limit that you set).

Note that bids are ranked in the following order: first amount, then quantity, then time. This means that if you use an automatic bid and someone outbids you, you will be the winning bidder at the same amount and quantity because your Automatic Bid would have been placed before their bid ( i.e. you would win on time).

You can now sit back and let the Automatic Bid feature do the bidding for you.