Proxy Bidding Explained

Proxy bidding is a feature where the computer bids in your absence. Before an auction starts, you enter the maximum price you are willing to pay and the computer does the rest. It will only bid after there is a competing online bid and it will not automatically bid your maximum price.

Instructions:

  1. Go to BMW Online Auctions 'Stock list' of choice.
  2. Against each vehicle, enter your maximum bid. In increments of €100.
  3. Click 'bid' to submit your proxy bids. This will also add the vehicle to your watchlist.
  4. In your watchlist or catalogue you can add, remove or edit a proxy bid provided the vehicle is not being offered.
  5. To add or edit a bid, enter the bid in the proxy bid column and click 'bid'.
  6. To remove a bid, simply click the red cross alongside the bid.
  7. If a vehicle is sold, an email purchase confirmation will be generated. If your proxy bid is outbid during the auction, you will also receive an email notification.

The rules:

  1. No notification of your proxy bid status will be done prior to the start of the auction (the time that shows on the current) 'Current Auctions'.
  2. Once the auction starts (at the time the 'Current Auctions' shows) notifications will happen if you are outbid.
  3. Proxy bids will be applied when the vehicle is being auctioned, only after the first accepted web bid on that vehicle.
  4. When the vehicle is being auctioned, proxy bids may not be placed or changed. In other words, setting, changing, deleting or any modification of your proxy bid will be allowed up to the time the vehicle is offered for sale.
  5. Proxy bids can only be entered in amounts divisible by €100. If the bid placed does not fall within the current increments of the bid amounts allowed, that proxy bid will NOT register with the system. Example1: An online user has a proxy bid for €1,000. Highest bid is €950. Bid increment is €100. Although the proxy bid is higher than the current highest bid, the next highest bid must be €1,050, which is higher than the proxy bid. In this case, the proxy bid will not be registered. Example 2: An online user has a proxy bid for €10,000. Highest bid is €9,900, bid increment is €200. Although the proxy is higher than the current highest bid, the next highest bid must be €10,100, which is higher than the proxy bid. In this case the proxy bid will not be registered, nor will the bid be registered if the increment is subsequently reduced to €100 even though this now means the next highest bid and is the same amount as the proxy bid.
  6. When proxy bids are entered for vehicles, BMW Online Auctions does NOT check if somebody has already placed a higher proxy bid on that vehicle, it does not warn the user or send an email.
  7. If two bidders place the same amount of the proxy bid on a vehicle, the proxy bid could register for either bidder; there is no order of whose proxy bid will register first.
  8. Proxy bids can be viewed, removed or edited provided the vehicle is not being offered.
  9. When the bidding starts for a vehicle, any proxy bids that are below the starting asking price will be dropped and for each subsequent asking price, all proxy bids that are below that are below that asking price will be dropped too. So, if a bid is recalled, or somehow undone, even though a previously dropped proxy bid might now be higher than the asking price, it will NOT be re-introduced, because it was already dropped and any proxy bid once dropped will not be introduced again for that vehicle.
  10. When a car is given a proxy bid amount, it is also added to your 'watch list' automatically, but one or the other or both can be removed up to the time the vehicle is offered for sale.
  11. If a vehicle is sold to you, an email purchase confirmation will be generated. If your proxy bid is outbid during the auction, you will receive an email notification.
  12. Users must provide a valid email address to utilise proxy bidding.