Proxy Bid

A look at the proxy bid functionality and how to use this with an auction.

What is Proxy Bid?

Proxy Bid is an automatic bidding system that allows bidders to participate in an auction on Krank, without having to sit at your screen 24/7.

Bidders set the maximum price (proxy-bid limit) they’re willing to go to before they start bidding. Once they’ve enabled their proxy and the auction has started, the system will place the minimum bid required as per the set bid increment of the auction listing.

Nobody else including the seller or other bidders can see the maximum proxy-bid limit set by the bidder.

In the situation where more than one bidder has set the same maximum price, any resulting tie would see the proxy bid limit that was set first, as the winner. A ‘first-come-first-served’ basis.