Proxy Bid Simulator
Below is a simple, interactive modle to demonstrate how the proxy bidding
works. The simulator allows
you to see some things that are otherwise hidden in a real auction, such as the seller reserve price and
other bid amounts. Please observe:
- A rational bidder will always enter a bid amount that represents
the most he or she is willing to pay
and then let the auto-bidding system do the work.
- Regardless of how high a maximum bid is placed, the sale price amount will only go up to the second highest bid plus the minimum bid increment.
- If the seller reserve price is not met, the item will not sell at all.
|Bidder 1 Bid|
|Bidder 2 Bid|