A proxy bidding auction allows you to bid the maximum amount you are willing to pay for an item and then it 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.  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 only pay the lowest possible winning bid, not necessarily your maximum 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, then they become the current high bidder at $7.25.  You always have the option of placing another bid if someone outbids your maximum (CollectorsBookAuction 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 makes their bid at the exact same amount the current proxy bid is at. Since the proxy bid was placed earlier, that is the bid that will succeed. For the second bidder to succeed in placing a bid, they must bid higher than the proxy bid that is in effect.