Q: What is the "Current bid"?

[forumuser]

What is the "Current bid"?

[admin]

The "Current Bid" is the highest bid currently placed on the auction.

As long as the BidoPrice is not met, as well as while the auction has not yet started (Pre-Bid), any bid you place is placed as an absolute bid. This means it is placed exactly at the amount that you put in. (e.g. BidoPrice is $1,000 and you place a bid of $500 - then, the current bid is $500). However, in a live auction once the the BidoPrice is met, any further bid is automatically a proxy bid, and the system will place on your behalf only the minimum bid possible, up to the bid amount that you placed. (e.g. BidoPrice is $200 and you place a bid of $500 in a live auction - then only $200 will be actually placed as the current bid of the auction. If then later on, another bidder comes and places a bid of $300, the system will automatically place on your behalf the next possible minimum bid, $330, as the current bid).