What is a maximum bid?

When a lot in an auction is closing and you cannot be online in order to make sure you are the highest bidder, a good way is to put in a maximum bid whenever is convenient for you before the lot closes.

In the Bidding Centre, you enter the highest price you would want to pay for a particular lot. This is not revealed to other bidders and it will automatically bid in increments (starting with the minimum bid required for the lot) against any other bids placed up to your maximum bid value.

For example, if your maximum bid is $100 and someone bids $20, your bid will automatically jump to $30 so that you outbid them. If someone places a bid of $110 you will be outbid (since your maximum bid is $100).

If you would like more help or information, just click below to contact our friendly team.

Matt Kalinski

Head Of Valuations

Qualifications & Affiliations

American Society of Appraisers Candidate Member

Certified Practicing Valuer AVAA

Profile

Matt has been in the valuations space for many years and has extensive experience in the space across an abundance of various industries. He now leads the valuations teams for Lloyds Auctions with a passion for encouraging his team to set and achieve high goals and produce great results for the company whilst growing the team’s skills starting with a great culture and team mindset.