Land Auction Maximum Bid

[ChoiceRider]

Hello everyone!

I'm trying to place my first time ever bid on a parcel, and I would like to place a maximum bid. What has me confused is there's a text link that reads "My Maximum Proxy Bid" and also a large green button that reads "Place Your Bid". Once I have entered my maximum amount, do I then just click the "My Maximum Proxy Bid" link, or just click the "Place Your Bid" button? What worries me is that if I click the "Place Your Bid" button, it will then enter my current bid at my maximum amount. So, how do I set my maximum bid amount with confidence?

Thanks,
ChoiceRider AKA Robert

 

[LittleMe Jewell]

The "My Maximum Proxy Bid" is not an actual link, but simply something you can hover your mouse over for further explanation.

Enter the maximum that you want to bid and press "Place Your Bid".  The system will only bid whatever is necessary, up to your max, to keep you in the lead.

[Qa Boa]

The maximum proxy bid is the most you will spend.

Then, when bidding you bid lower - if someone else is also bidding on the same parcel with a higher maximum proxy it will instantly outbid you. This goes back and forth until the first maximum proxy bid is reached, in which case the other will win that bidding debate. Then you have the opportunity to raise your maximum. Though it's wider to do this much closer to the bid closing date and time, else you just pull a lot more hair out of your head.

Edit to add: What LittleMe says.

What I describe is when you want to bid on a parcel that is already being bid on. If there are no bids yet, set your maximum then bid low. For example Set maximum to 10,000L$, then make a bid for 100L$. If someone else comes along and bids 200L$ the system will automatically bid on your behalf for 201L$ and will keep doing that until it bids your maximum (10,000L$ in this example) and you will be notified by email that you are outbid. Then you can go in and create anew maximum if you want.

Edited November 15, 2017 by Qa Boa

[ChoiceRider]

1 hour ago, LittleMe Jewell said:

The "My Maximum Proxy Bid" is not an actual link, but simply something you can hover your mouse over for further explanation.

Enter the maximum that you want to bid and press "Place Your Bid".  The system will only bid whatever is necessary, up to your max, to keep you in the lead.

As always LittleMe Jewell, thank you so much putting me on the right path.

[ChoiceRider]

1 hour ago, Qa Boa said:

The maximum proxy bid is the most you will spend.

Then, when bidding you bid lower - if someone else is also bidding on the same parcel with a higher maximum proxy it will instantly outbid you. This goes back and forth until the first maximum proxy bid is reached, in which case the other will win that bidding debate. Then you have the opportunity to raise your maximum. Though it's wider to do this much closer to the bid closing date and time, else you just pull a lot more hair out of your head.

Edit to add: What LittleMe says.

What I describe is when you want to bid on a parcel that is already being bid on. If there are no bids yet, set your maximum then bid low. For example Set maximum to 10,000L$, then make a bid for 100L$. If someone else comes along and bids 200L$ the system will automatically bid on your behalf for 201L$ and will keep doing that until it bids your maximum (10,000L$ in this example) and you will be notified by email that you are outbid. Then you can go in and create anew maximum if you want.

,Thanks, Qa Boa, for the excellent example. I will start in on it right away!

[Ab Jinx]

Is it possible to raise the maximum bid on auction when still the leading bidder?

[Hintswen Guardian]

On 2/22/2019 at 1:36 AM, Ab Jinx said:

Is it possible to raise the maximum bid on auction when still the leading bidder?

No.