Proxy bidding means, you can place your highest bid and our system will automatically bid on your behalf. For example, if the current auction price is $10 and you are willing to pay up to $100 for the domain, you can place a $100 proxy bid. In the event someone bids $20 for the domain, the system will automatically outbid them by placing an additional $10 bid on your behalf, making auction price $30.
Since proxy bidding does all the work for you, there's not much work for you to do. In case your proxy bid gets outbid, we'll email you to let you know. We'll also email you when there's 24 hours left and then again when there's 1 hour left.
This is to prevent "auction sniping". In the event that someone places a bid within the last 10 minutes of auction, the auction will be extended for a period of 1 hour and a notification will get sent out to whomever had the highest bid, so that they can have a chance to re-bid.