The following steps will allow you to set a limit as to how high you are willing to bid on an item. Any time you are outbid on this item, GovDeals will automatically place a bid for you up to your set limit. After you have set a “Max Auto Bid Amount”, a line will be displayed telling you what the amount is each time you view the item.
Step 1. Locate the asset that you would like to bid on (see Search for an Asset on the Auction).
Step 2. Click on the asset that you would like to bid on. This will display an asset information sheet.
Step 3. Enter your “Max Auto Bid Amount” in the bid box labeled “Max Auto Bid Amount”. Your “Max Auto Bid Amount” must be equal to or greater than the “Minimum Bid”.
Step 4. Click 'Go!' A confirmation page will display the item description and the “Max Auto Bid Amount”.
Step 5. Click 'Agree.' By clicking the 'Agree' button, you agree that the “Max Auto Bid Amount” is correct and wish to place the bid.
Max Auto Bid Rules:
Rules for increasing or decreasing the “Max Auto Bid Amount”:
Subsequent to a bidder entering their initial “Max Auto Bid Amount” they may increase the “Max Auto Bid Amount”, however, the new Max Auto Bid Amount” must be equal to or greater than the “Minimum Bid”. A bidder may also decrease their “Max Auto Bid Amount”, however, the new “Max Auto Bid Amount” cannot be less than the “Minimum Bid”.
How to increase or decrease your “Max Auto Bid Amount”:
In order to change your “Max Auto Bid Amount”, simply enter your new “Max Auto Bid Amount” in the “Max Auto Bid Amount” bid box for the item on which you are bidding. Follow the same steps for setting the initial “Max Auto Bid Amount” and be sure to follow the rules for increasing or decreasing the “Max Auto Bid Amount”.
Max Auto Bid and its Effect on the Bid Increment:
At the time a bidder places a “Max Auto Bid Amount” the bid amount must be equal to or exceed the “Minimum Bid”. A bidder may be outbid by an amount less than a full increment. This will occur when the winning bidder's bid beats the second highest bidder’s bid by an amount less than the full increment.
There are two cases where a bid increment maybe higher than the standard increment:
1. Meeting the reserve
2. Beating a competing bidder's high bid
Max Auto Bid Example:
The following is an example of how a “Max Auto Bid Amount” can be declared the winner of an auction and appearing not to meet the “Minimum Bid:
Opening amount $100.00
Bid increment $10.00
Minimum bid amount $200.00
Bidder A enters a max auto bid amount of $215.00.
Bidder A’s max auto bid amount passes the minimum bid test.
GovDeals records bidder A's minimum bid amount of $200.00.
The new minimum bid amount is now $210.00. ($200.00 + $10.00 bid increment).
Bidder B enters a minimum bid amount of $210.00.
GovDeals records bidder B's bid amount and then enters bidder A's max auto bid amount of $215.00 as the high bid. Although Bidder A’s max auto bid amount of $215.00 appears not to meet the bid increment of $10.00, at the time Bidder A placed the max auto bid amount it passed the minimum bid test.