A proxy bid can be used as a method of placing your best bid against a vehicle. This is usually applied when a buyer is neither in the hall or online to make a bid – essentially placing it remotely from another location.
By placing a proxy bid a buyer submits a maximum value they are willing to offer and it is then securely stored on our server with no visibility to the auctioneers or the vendors. By doing this we ensure that all bids are fair.
Once the sale is underway, your bid will be fed into the bidding platform against the vehicle, bidding on your behalf against both the hall and online. If the hammer price falls below your maximum bid, the system will only bid the minimum amount required to outbid (either in £25, £50, £100 increments depending on the vehicle value).
You will only pay the value needed to outbid the last bidder, which may be under your maximum bid. If your maximum bid is below the bids in the hall or online, you will be taken out of the bidding.
How to place a Proxy Bid
You will need to be logged in with a trade account in order to place a proxy bid. Visit the vehicle you wish to place a bid on and locate the section shown above.
From here, enter your proxy bids in increments of £25. This will then we added to the sale and the system will bid on your behalf during the offering of the lot.
To watch a video explaining how proxy bids work, and how to place them, click HERE to open a video in a separate tab.