Proxy bidding refers basically to automatic type of bidding. In an auction, when you place a bid and another user outbids you, you need to again come back and bid higher in order to remain the highest bidder. To avoid coming back, you can use automatic bidding which bids on behalf of you when someone outbids you. You can initially enter maximum amount with which you are comfortable with then our automatic system will bid on behalf of you until that maximum amount is reached.Â
A vehicle sold “On Minimum Bid” means that the seller established a minimum bid or reserve price before the auction. If you are the high bidder and your high bid meets or exceeds the minimum bid, you will be obligated to purchase the vehicle at the end of the auction. However, if you are the high bidder but your bid does not meet or exceed the minimum bid, you will not be awarded the vehicle at the end of the auction. Instead, once the auction ends, you have the option to: (a) maintain your high bid or (b) increase your high bid. Additionally, the seller has the option to: (a) accept your high bid, (b) reject your high bid, or (c) make a counter offer.
You acknowledge and agree that even if the seller makes one or more counteroffers, your high bid on any vehicle is an offer that cannot be revoked or cancelled and shall remain open for acceptance by the seller until 5:00 pm on the next business day after the auction date.
For example, you bid $500,000 on Vehicle A and your bid is the highest bid at the end of the auction. After the auction ends, the seller makes a counteroffer of $600,000. Even if you do not accept the seller’s counteroffer of $600,000, the seller may still accept your high bid of $500,000 before 5:00 pm on the next business day. You may not revoke or cancel your bid, even if the seller makes one or more counteroffer.
You agree that your high bid is not accepted or rejected unless or until you receive notification from us of the same. You agree that the acceptance or rejection of your bid for an “On Minimum Bid” vehicle is not within our control or discretion and hereby release us from any related liability, damages, and losses. Please review our general release in our (Member Terms and Conditions)Â for more information.
Bid rejection
Kipling Auction (as operator of the auction) may in its sole discretion reject or cancel any bid at any time and for any reason without prior notice to you. Should a dispute arise regarding a bid, Kipling Auction is the exclusive deciding authority with sole discretion in resolving disputes. You acknowledge and agree that any such rejection or cancellation is not within our control or discretion, and hereby release us from any related liability, damages, and losses. Please review our general release in our (Member Terms and Conditions for more information).
You cannot bid on your own vehicle
We may offer consignment sales for certain vehicles. If you consign a vehicle for sale, you may not bid on this item. We call this “shill bidding” and it is a violation our policies.
Similarly, if you know the seller of the vehicle, you cannot bid on the vehicle for the purpose of driving up the selling price. This rule applies to family, friends, partners, roommates, coworkers, employees, and others.
Proxy bidding
Proxy bidding (also known as Automatic Bidding) Kipling Auction automatic bidding system makes bidding convenient so you don’t have to keep coming back to re-bid every time someone places another bid.
When you place a bid, you enter the maximum amount you’re willing to pay for the vehicle. The seller and other bidders don’t know your maximum bid. Our automated system will place bids on your behalf using the automatic bid increment amount, which is based on the current high bid.
Our automated system will bid only as much as necessary to make sure that you remain the highest bidder or to meet the reserve price, up to your maximum amount.
Our greatest asset is the reputation we have built over the years in terms of reliability, integrity, transparency, trust, and excellence in the auctioning services
