- Placing a bid: GSA Auctions only accepts minimum (flat) and maximum (proxy) bids for Personal Property auctions. The minimum bid is either the starting price of the auction, or the current winning bid plus the bid increment. The maximum bid is the maximum amount you are willing to pay for an item. Maximum bids are also referred to as proxy bids. When you place your maximum bid, GSA Auctions will automatically bid on your behalf, and will use as much of your bid as needed to make you the current winner of the auction or to meet the auction's reserve price.
- Bid Amount: GSA Auctions only accepts bids in whole dollar amounts.
- Reserve price: The reserve price is not published to the general public, and is the minimum price that the owning agency is willing to accept for an item. If your maximum bid equals or exceeds the reserve price, your bid will be placed at the reserve price regardless of competition.
- Tie bids: An auction cannot close in a tie, therefore, in the event two users have placed the same proxy bid amount, the user who placed the proxy bid first will win the auction.
- Competing proxy limits: When two proxy bids compete, the greater of the two proxy amounts will win. If the greater proxy amount exceeds the lesser proxy amount by the bid increment, then a bid equal to the lesser proxy amount plus the bid increment will be placed. If the greater proxy amount does not exceed the lesser proxy amount by the bid increment, then the greater proxy amount’s maximum bid will be placed.
- Increasing your maximum bid: You can increase your maximum bid if you are currently the winner in an auction. To increase your maximum bid, enter an amount greater than your current maximum bid. Increasing your maximum bid will not increase your current winning bid (unless it is equal to or above the reserve price).
- Decreasing your maximum bid: You can decrease your maximum bid if you are currently the winner in an auction. To decrease your maximum bid, enter an amount less than your current maximum bid. You cannot decrease your bid below the minimum bid price or if you have reached the reserve price.
- Bid Deposits: Certain auctions may require that either documentation or a bid deposit be submitted to the regional office prior to having access to the bid button. This is the message you will receive if you click the Bid button and a bid deposit is required. If documentation is required, the message will display stating what documentation is required.
Please refer to the item description page for instructions on submitting the bid deposit and/or the required documentation.