PugetSoundEstateAuctions.com

Lot #0 -  PROXY BID OR MAX BID: This is a method for online auction bidding. How it works is the bidder who bids on an item decides a maximum amount that he or she is willing to pay for in advance, and bids this amount.
That bid is hidden in our system from other bidders.  As other bids are made, our system automatically increases the person's bid by pre-specified increments until the bidder's maximum amount is reached. If the bidder is monitoring the auction, at this point he/she can give up or choose to increase the bid unless the clock has run down and there is no time to increase your bid.... but if you had bid your absolute maximum amount up front, you let the Proxy Bidding system work for you.
To avoid last second sniping, we suggest bidders enter your absolute maximum bids as proxy bids early. This will help defeat any advantage from others sniping.  If someone does outbid you toward the last seconds of an auction, it may feel unfair, however. it simply means that someone else was just willing to pay more.