Bidding Explained

Automatic bidding is the easiest way to bid on a Gustafson's auction. Simply enter the highest price you’re willing to pay for an auction lot, and we'll do the rest.

Once you set up automatic bidding, you can stay ahead of the competition without needing to be on the Gustafson's site.

How to Set Up Automatic Bidding

To set up automatic bidding on a lot, enter the maximum amount you’re willing to pay and select "Place Bid". We’ll bid in increments on your behalf to keep you in the lead but only up to your maximum bid. This is known as your "Proxy Bid".

We’ll let you know via email if someone outbids you and you can decide if you want to increase your maximum bid.

Keep in mind when you’re deciding on the maximum amount you’re willing to pay that you’ll also need to cover shipping, tax, and a buyer's premium.

Bidding on objects can be exciting, but remember it is a contractual obligation. When deciding your maximum bid, be sure you’re happy to pay that amount if you win the auction.

Why Was I Immediately Outbid?

If you are outbid immediately after placing a bid, it’s likely that another bidder is using automatic bidding and has a maximum bid higher than yours. You’ll need to increase your maximum bid beyond theirs in order to be the highest bidder.

Bid Increments

When someone else places a bid, we’ll place a slightly higher bid on your behalf. The amount the bid increases by is known as a bid increment. Bid increments are smaller when the bid price is low and larger when the bid price is higher.

 Current Price

Bid Increment
$0.01 - $1.00

$0.05
$1.00 - $5.00

$0.25
$5.00 - $25.00

$0.50
$25.00 - $100.00

$1.00
$100.00 - $250.00

$2.50
$250.00 - $500.00

$5.00
$500.00 - $1,000.00

$10.00
$1,000.00 - $2,500.00

$25.00
$2,500.00 - $5,000.00

$50.00
$5,000.00 and up

$100.00
Occasionally, you’ll see bids increase by less. This means that another bidder has placed a bid slightly higher than your maximum bid amount.

I Entered Another Bid and the Current Price Increased Even Though I Was Already the High Bidder?

If you are the current high bidder and want to raise your maximum bid, be sure to bid in excess of the current price + 2x the incremental bid, otherwise the current price will also increase (i.e., you will be bidding against yourself).

For example, if the current bid amount is $100.00 and the minimum increment allowed is $2.50, then if you place a bid for $105.00 (bid price + 2x the incremental bid) the price will then increase to $105.00. You must bid more than $105.00 to set a new maximum bid.

To avoid this, simply enter the highest price you’re willing to pay for an auction lot, and we'll do the rest.