How Proxy Bidding (Prebid) Works at US Auctions
5 min read
A maximum bid set upfront, automatic outbidding, the closing round — we explain how proxy bidding works so you don’t overpay in the heat of the moment.
Proxy bidding (prebid) lets you enter the maximum amount you’re willing to pay, and the system bids for you — outbidding rivals by the minimum increment, but never above your limit.
Why it works in your favor
You take the emotion out of bidding. If someone sets a higher limit they’ll win, but you won’t pay more than you intended. The key is to set a limit based on your cost estimate, not on the urge to win.