Set it and forget it. Proxy bidding lets you compete without watching the clock. Here's how to use it effectively.
Proxy bidding is the single most powerful tool available to Cars Auction buyers — and it's consistently underused. Here's how it works and how to get the most out of it.
The basics
When you place a proxy bid, you're telling the platform the maximum you're willing to pay. The system then bids on your behalf, incrementally, only as much as needed to keep you in the lead — up to your maximum.
If the current bid is $10,000 and you set a proxy at $14,000 with a $500 increment, the system will bid $10,500 immediately. If someone else bids $11,000, the system responds with $11,500. This continues until either the auction ends with you leading, or another bidder exceeds your $14,000 maximum.
Why it works better than manual bidding
Manual bidding rewards whoever is watching the screen at the right moment. Proxy bidding rewards preparation. You do your research, you determine your maximum, you set your proxy — and then the market determines whether you win at a fair price.
It also removes the psychological pressure of live auctions. Buyers who manual-bid in real time frequently overbid in the heat of competition. A proxy maximum set in advance reflects your actual valuation, not your adrenaline.
Setting an effective maximum
Your proxy maximum should reflect your all-in cost analysis: the hammer price plus the 0.5% auction fee, estimated transport, any reconditioning needed, and your target margin if you're reselling. Work backwards from retail value, not forwards from the opening bid.
A useful rule: if you wouldn't be comfortable paying your maximum, lower it. The proxy system is only as disciplined as the number you enter.
One common mistake
Don't set your proxy maximum at a round number. If your budget is $15,000, set it at $15,200. Other bidders often stop at round numbers, and that small buffer can be the difference between winning and losing.