Proxy Bidding Settings and Rules
Published: 2015-11-25
Contents
III. Setting and Modifying Proxy Bids
Proxy bidding means a buyer sets a maximum price higher than the current minimum bid. When another buyer places a bid, the system automatically bids upward by the minimum bid increment to keep the buyer in the position of leading bidder, until the bid is surpassed by another buyer. The proxy price is kept confidential from other buyers.
1. Proxy price = current minimum bid + an integer multiple of the bid increment.
2. The system bids upward according to the minimum bid increment; the closing price is subject to the actual bid.
3. For transactions on our platform, the bid deposit is based on the actual bid amount (unrelated to the set proxy price);
For third-party cooperative transactions, the bid deposit is based on the amount actually displayed on the page (for example, in traditional domain auctions, the bid deposit is usually 20% of the proxy bid).
4. When bids are the same, the proxy bid takes precedence.
5. If multiple buyers set the same proxy bid, the buyer who set that proxy price first takes precedence.
6. The account balance must be greater than or equal to the deposit corresponding to the proxy price for the setting to succeed. After setting, if consumption occurs in the account and causes the balance to be insufficient to pay the deposit, you cannot continue bidding.
III. Setting and Modifying Proxy Bids
Enter the corresponding price in the bid box and click "Bid Now"; if the rules are met, the setting will succeed.
If you set it incorrectly or want to modify it, bid again on the transaction page, and the new bid will become the new proxy price. The new proxy price can be higher or lower than the original proxy price, but it must be greater than the current minimum bid.
1. The current minimum bid for this domain is 10 yuan;
2. If Buyer A bids 50 yuan (an amount higher than the minimum bid), the system displays a prompt to automatically set a proxy price;
3. After clicking "Confirm", the bid is the minimum bid of 10 yuan, and 50 yuan is set as the proxy price.
4. If Buyer B sets a proxy price of 60 yuan, the system automatically bids 50 yuan for Buyer A and bids 60 yuan for customer B (when multiple customers set proxy bids, only the last record is displayed, and there will be no intermediate bid records such as 20,30 yuan, etc.).
Buyer B sees the record as follows:
Buyer A sees the record as follows:
5. Buyer A bids again at 100 yuan, and 100 yuan is set as the proxy price. Buyers can modify the proxy price as long as it is not lower than the current minimum bid (the system will provide a related prompt).
Modify the proxy price to 80 yuan
After the change, the proxy price becomes 80 yuan
The situation with multiple buyers bidding can be inferred by analogy.