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The Mi Auto Used car auctions in Chiba, Japan , often use both real-time and proxy bidding. Real-time bidding is like a traditional, fast-paced auction where you or your agent manually place bids as they happen. You must watch the auction live and react instantly to other bidders.
Proxy bidding (or auto-bidding) offers convenience. You set a maximum bid you are willing to pay for an item. The system then acts as your "proxy," automatically raising your bid by small increments, only as needed, to keep you as the highest bidder—but never going over your set maximum. This way, you can win an item at the lowest possible price without watching the auction.
Proxy bidding (or auto-bidding) offers convenience. You set a maximum bid you are willing to pay for an item. The system then acts as your "proxy," automatically raising your bid by small increments, only as needed, to keep you as the highest bidder—but never going over your set maximum. This way, you can win an item at the lowest possible price without watching the auction.