Proxy bidding is an automatic bidding process where the system bids on your behalf — up to a maximum amount — to keep you as the leading bidder.
Let's say there is an item with a current bid of $20.00 and you are willing to pay $50.00 for it. Using proxy bidding, enter your maximum amount of $50.00. Your maximum of $50 will be remembered, but your bid will be seen as $20.00 + the bid increment. If no other bids are placed, that is all you pay.
If someone else does place another bid, a new bid will be issued on your behalf that is the lowest amount possible to put you back in the lead. If someone places a bid that is more than your maximum, you will have been outbid, but you will be sent an email informing you of this situation.
To Use Proxy Bidding
 To use proxy bidding, enter the maximum amount you're willing to pay for an item. When on the "Confirm Your Bid" page, make sure the "Use proxy bidding" option has been selected, then enter your Username and Password and click the "Submit" button. On the following page, you will be informed what your current bid is and reminded of your maximum bid.
To Bid A Higher Amount Immediately
 If you want to bid an amount that is higher than the Minimum Next Bid, enter that amount and on the "Confirm Your Bid" page, chose the "Bid this amount right now" option, which will record your bid as that amount. However, if you are the winning bidder, that is the amount you will have to pay.
More Information
Proxy bidding can sometimes causes unusually entries in the bid history or your bids to behave in an unexpected manner. If you still have questions, please see the PDF Proxy Bidding Explained (PDF Format - 100K).
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