How Do I Set a Maximum Bid?

If a seller offers their listing as an auction, you will have the option to set a maximum bid. This allows you to participate in the auction without needing to monitor it continuously. You can simply enter the highest price you're willing to pay for the item and then let the system automatically place incremental bids up to your maximum amount ensuring you remain the highest bidder up to your specified limit. If someone places a higher bid than your maximum, you’ll receive a notification so you can decide whether to increase your bid limit. Remember to factor in postage costs when setting your maximum bid amount.

 

Important Note:
Bidding on an auction is a contractual commitment. Make sure you’re comfortable paying your maximum bid amount if you win the auction.

 

Here's how you can set a maximum bid:

1. Find the Auction Listing
Locate the auction listing you are interested in and look for the bidding options.

 

2. Select the 'Maximum Bid' Button
Select the 'Maximum Bid' button. This will open a pop-up window where you can enter your bid details.

 

3. Enter Your Maximum Bid Amount
In the pop-up window, enter the highest amount you are willing to pay for the item. This is your maximum bid. The system will then automatically place incremental bids on your behalf up to this maximum amount, ensuring you remain the highest bidder until your limit is reached.

 

4. Submit Your Maximum Bid
After entering your maximum bid amount, select the 'Submit' button to confirm. Your maximum bid is now set, and the system will handle the rest. It will increase your bid incrementally as other bidders place their bids, up to your specified maximum.

 

5. Automatic Bidding

The system will automatically place bids on your behalf according to a pre-determined bid increment chart, continuing until your maximum bid is reached. When another bidder places a bid, the system will slightly increase your bid to maintain your lead. The bid increments are smaller for lower-priced items and larger for higher-priced listings. We will notify you when your maximum bid has been outbid.

 

 

6. Notification and Confirmation
Once your maximum bid is set, it cannot be revoked and is considered an official bid. You will receive notifications about the status of your bid.

 

By setting a maximum bid, you can participate in auctions more conveniently, allowing the system to manage the bidding process up to your specified limit, giving you a better chance to win the item without having to monitor the auction constantly.