Understanding Reserve Prices, Bid Increments, and Proxy Bidding
Successful online auctions begin with preparation. Before bidding, review the lot description, photographs, condition notes, seller information, delivery terms, accepted payment methods, starting price, bid increment, reserve status, and closing time. Decide the maximum amount you are willing to spend, including delivery or applicable fees, and keep that limit in mind as the countdown moves.
During the auction, use the bid history and live price as context rather than a reason to rush. Place a clear bid, confirm that your wallet balance is sufficient, and watch for auction extensions when activity arrives near closing. If you win, complete payment promptly, confirm delivery details, keep transaction records, and use the platform’s order and support tools whenever clarification is needed.
GenBay is designed to make this process easier for bidders and sellers through timed listings, transparent bid progression, wallet-supported bidding, secure checkout, and clear order tracking. Whether you are exploring your first lot or managing regular listings, a calm, informed approach produces a better marketplace experience.
