A bidding increment is the amount by which a bidder must outbid the current bid in order to become the highest bidder. Bidding increments exist to prevent bidders from placing arbitrary amounts, ensuring a fast and orderly bidding process.
Bidding increments are set for specific price ranges, usually in 10% steps, with each auction house following its own bidding increment table.
Bids that deviate from these increments are not accepted by the auction house, except in exceptional cases during live auctions in the auction room.
At LOT-TISSIMO, the auction house-specific bidding increments are stored so that they are automatically applied when you place your bid.
When submitting your maximum bid, the system will notify you if your bid deviates from a bidding increment.
This is what a bidding increment table might look like:
| from | Bidding increment |
|---|---|
| 0 EUR | 1 EUR |
| 10 EUR | 5 EUR |
| 50 EUR | 10 EUR |
| 200 EUR | 20 EUR |
| 500 EUR | 50 EUR |
| 1,000 EUR | 100 EUR |
| 5,000 EUR | 500 EUR |
| 10,000 EUR | 1,000 EUR |
| 50,000 EUR | 2,000 EUR |
| 100,000 EUR | 5,000 EUR |
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