What are bid increments?

The bid increment is the amount that tells you how much higher the next bid should be compared to the previous one.

Bid increments

At Galeria Savaria, the seller determines the bid increments, which can be of 2 types:

1. Default bid increments
2. Custom bid increments

1. Default bid increments

By default, bid increments are always determined by the current price of the item. Based on the status of the auction, our system automatically determines bid increments:

Important: Although bid increments are indicated, we reserve the right to change them in order to optimize the operation of Galeria Savaria or increase sales efficiency.

2. Custom bid increment

If you would like to determine your own bid increment, you can do this as well. In this case, the bid increment will increase with the amount specified by you, and the current price of the auction does not affect the bid increment. E.g.: You determine the starting price at 10,000 HUF at the start of the auction, and set 5,000 HUF as the bid increment. This means that bidding will start from 10,000 HUF and every bidder must bid with an amount that is higher by at least 5,000 HUF. By default, in case of a 10,000 HUF item, the bid increment would be 1,000 HUF, then as the price of the item increases, the bid increment would increase according to the next price range (2,000 HUF in case of 25,000 HUF, see the table above). If you start the auction with your own bid increment, the bid increment will remain 5,000 HUF, also above 25,000 HUF.

Can my bid exceed the bidding amount of bid increments?

Yes, this can happen in three cases:
1. To approach the reserve price: In case of a reserve priced auction, instead of the amount increased by the bid increment, we display the total amount of the automatic bid given by you. Example: the current price of an auction is 600 HUF, your maximum bid is 1,100 HUF, while the reserve price is 2,000 HUF. In this case, instead of the 650 HUF bid increment, the current price will be 1,100 HUF.

2. To reach the reserve price: In case of a reserve price auction, we will automatically increase your bid over the bid increment to make it reach the reserve price. This means that your current bid will be the amount of the reserve price. However, we will never go over the maximum bid given by you. Example: the current price of an auction is 600 HUF, your maximum bid is 1,100 HUF, while the reserve price is 800 HUF. In this case, instead of the 650 HUF bid increment, the current price will be 800 HUF.

3. To outbid the maximum bid of another user: We will increase your bid above the bid increment if, by this, it will exceed the maximum bid of another bidder. However, we will not go over the maximum bid given by you in this case either. Example: the current price of an auction is 600 HUF, your maximum bid is 1,600 HUF, while the maximum offer of the current highest bidder is 1,100 HUF. In this case, instead of the 650 HUF bid increment, the current price will be 1,200 HUF.

Is it possible that I get outbid by a fraction of the bid increment?

Yes, the maximum bid of a bidder must exceed the maximum bid of the other bidder by at least 1 HUF.

Example: You are the first bidder for an item, the starting price of which is 2,000 HUF, and your maximum bid is 5,000 HUF. In this case, the opening bid will be 2,000 HUF. If another user bids 2,200 HUF, we will automatically increase your bid to 2,400 HUF. If a third user bids 5,001 HUF, they will have the highest bid. As 5,001 HUF is higher than 2,400 HUF and also higher than your maximum bid of 5,000 HUF, this third user wins, unless you or another bidder outbid them.