Max-bid is a feature that allows you to set a predetermined maximum bid for an asset before the auction starts. This way you can stay in the game without waiting for the lot you are interested in to appear. This feature allows Pickles Live to bid on your behalf in small increments up to your maximum bid. The Pickles Live bidding systems will always attempt to have the buyer win the auction at the lowest price possible.
For example, if you’re interested in a car and decide the maximum amount you would spend on this car is $20,000, you can set a max-bid before the auction starts. So once that car has been lotted a few days before the auction, you can set your maximum bid to $20k. When the auctioneer reaches this lot during the live auction, the system will bid up to your set amount on your behalf. You will be notified that bidding has started and if you get outbid. The feature will never bid above the figure you set as your max-bid limit for that item.
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