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 Simulcast Auctions 'Stock list' of choice.
  2. Against each vehicle, enter your maximum bid. Proxy bids can be entered at any amount.
  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 your Proxy Bid is successful and you “win” the vehicle, or have a provisional bid* on the vehicle, an email confirmation will be generated and sent to you. If your proxy bid is outbid during the auction, you will also receive an email notification.

    8. * A provisional bid is where your proxy bid is the current highest bid on that vehicle but does not meet the vendor's reserve. The proxy bid does not therefore “win” the vehicle but is conditional upon the vendors consent to sell it to you below the reserve

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 that vehicle is being offered.
  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 be entered at any amount, but will only fire providing the proxy bid exceeds the current highest bid and falls within the pattern of the auctioneer's increments. At the time of sale, 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.

    6. 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, Manheim Simulcast 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. Once bids are accepted on a vehicle, any proxy bids that are below the starting asking price will not fire as bids to the auctioneer. For each subsequent asking price, all proxy bids that are lower in value than the asking price will not fire.
  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, or you have a provisional bid* on a vehicle, an email confirmation will be generated. If your proxy bid is outbid during the auction, an email ‘outbid’ notification will be automatically generated. Manheim gives no guarantee emails will be received by users or that they will be received within a given time frame.

    12. * A provisional bid is where your proxy bid is the current highest bid on that vehicle but does not meet the vendor's reserve. The proxy bid does not therefore “win” the vehicle but is conditional upon the vendors consent to sell it to you below the reserve value.

  12. Users must provide a valid email address to utilise proxy bidding.
  13. Please note: If a vehicle is re-offered during the auction, any proxy bids placed will be submitted again. Therefore, in this case, your proxy bid may still be successful.
  14. Manheim may cancel your proxy bid on your behalf where there is a change in the vehicle information which materially changes the description of the vehicle to that described at the time you placed your proxy bid. In this instance an email ‘proxy bid cancellation’ notification will be automatically generated. Manheim gives no guarantee emails will be received by users or that they will be received within a given time frame.