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Help and FAQ's   >   How the Bid Increment Works
 
How does the bid increment work?

There are 2 ways the bid increment affects the bidding process for any given item:


Placing New Bids

When placing a new bid, the bid increment is used to calculate the minimum amount you may submit as your "Maximum Bid". Essentially, Current High Bid + Bid Increment Amount = Minimum Acceptable Bid.

For example, given an auction where ...

  • Current High Bid: $262.00
  • Bid Increment: $1.00

... your "Maximum Bid" must be at least $263 and can be as high as you are willing to pay.

Exception: When placing a new bid on an item that has no existing bids, the minimum bid amount is the same as the "Current High Bid" amount.


BidAgent Calculations

Once you have submitted your "Maximum Bid" amount, the Fuji Arts BidAgent will automatically handle bidding on your behalf. For any new or existing bids from other users, the BidAgent will calculate Other User's Maximum Bid + Bid Increment Amount, and then determine whether that amount is below your own "Maximum Bid" amount. If so, that amount is submitted for you as the new high bid on the item. If not, you will be notified that you have been outbid.

For example, given an auction where ...

  • Start Price: $75.00
  • Bid Increment: $1.00

... the auction might run as follows:

Action BidAgent Calculated High Bid Current High Bidder
Artcollector submits Maximum Bid of $100 $75.00 Artcollector
Woodblockguy submits Maximum Bid of $90 $91.00 Artcollector
Woodblockguy submits new Maximum Bid of $110 $101.00 Woodblockguy
Artcollector submits new Maximum Bid of $112 $111.00 Artcollector
Auction ends $111.00 Artcollector
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