Bidding on ReefnBid is straightforward, and knowing how it works will help you win more auctions. Here is the full rundown.
Placing your first bid
Start with the minimum bid, which is the current bid plus the minimum increment. If you are the first bidder, you can also bid the starting bid shown in the listing.
For example, if the current bid is 20 dollars and the minimum increment is 2 dollars, your next minimum bid is 22 dollars.
Understanding the current bid
The current bid is what you would pay if the auction ended right now with no more bids.
Reserve price
Some auctions have a reserve price, which is the lowest amount the seller will accept. If the highest bid does not reach the reserve, the auction ends with no winner. The reserve price stays hidden from bidders, and not every auction has one.
Sniping protection
When sniping protection is on, any bid placed in the final minute extends the auction by another 15 seconds. Sellers can turn this feature on or off to discourage last-second bidding.
Proxy bidding
Any bid above the minimum counts as a proxy bid. With proxy bidding, ReefnBid places bids for you in the smallest increments needed to keep you in front, up to your maximum. Use it when you want bidding to run automatically up to a limit you set.
One important note
If your payment method fails, you cannot bid until you fix it. Sellers are not required to hold a winning auction for a buyer whose payment has failed.