Each bid placed in an E-Salvage auction must exceed an item’s current bid by the “Bid Increment". The bid increment amount depends on the item’s current bid.
- For amounts under $40, the bid increment is $1
- For amounts between $40 and under $1,000, the bid increment is $20
- For amounts between $1,000 and under $5,000, the bid increment is $100
- For amounts between $5,000 and under $20,000, the bid increment is $250
- For amounts from $20,000 and over, the bid increment is $500
For example, If the current bid on an item is $60 then the bid increment is $20 and the next bid must be at least $80 ($60 + $20).
If the current bid is $1,700 then the bid increment is $100 and the next bid must be at least $1,800 ($1,700 + $100).
If the current bid is $8,500 then the bid increment is $250 and the next bid must be at least $8,750 ($8,500 + $250).
Remember – when you place a bid you are indicating the maximum you are prepared to pay. The system will bid on your behalf up to your maximum, but not beyond it. Therefore the current bid on an item may be less than the maximum indicated by the bidder. Only the bidder knows their maximum. New bids must exceed the current bid by at least the bid increment.
The minimum valid bid is always shown on the bidding form for each item.
The current bid holder can adjust their maximum bid at any time, as long as their new maximum is at least equal to the current bid.