A proxy bidding auction allows you to bid the maximum amount you are willing to pay for an item and then the system automatically  places bids for you (as your proxy) as necessary, so you don't have to constantly monitor your auctions to place the winning bid. Your maximum amount will always be kept secret and no one else can find out how much it is. 

Whenever someone else places a bid against you, our auction software will automatically enter the lowest possible bid for you (at one bid increment* over the new bid) keeping you the winning bidder until you win the auction or your maximum is outbid.

As the winner of the auction, you pay only the lowest possible winning bid, usually less than your maximum bid, depending on the amount of the second highest bid.

Example:  The opening bid on an item is $3.00 and there are no bids.  You decide to bid on the item and the top price you will pay is $7.00.  You place a bid for $7.00 but you will be the current high bidder at $3.00  (and the winner of the auction at $3.00 if no one else bids).  Sometime later, before the item closes, another bidder bids $5.00, but you will still be the current high bidder at $5.25 (one increment* over the second highest bid).  Still later, but before the item closes, another bidder bids $9.00 (which is their proxy bid), then they become the current high bidder at $7.25.  You always have the option of placing another bid if someone outbids your maximum (Collectors Book Auction automatically notifies you by email when someone else outbids your maximum bid).

When Proxy Bidding is in effect, it can appear as if one bidder has beat another bidder with the same bid amount. This is normal and occurs when a bidder has a proxy bid in effect and a second bidder comes along and bids the exact amount of the current proxy bid. Since the first proxy bid was placed earlier, that is the bid that will succeed. For the second bidder to succeed, he must bid higher than the proxy bid that is in effect.

*Bid Increments