Auction glossary
Bid increment
Also known as · Bidding increment · Bid step
- Definition
- The minimum amount by which each new bid must exceed the previous one. Increments rise with the price and are defined in a table published in the conditions of sale.
A typical scheme uses small steps at low prices and larger ones as the bidding climbs; the auctioneer may depart from it at their discretion. Consistent increments matter most in hybrid sales, where absentee bids, phone lines and online platforms must all line up.
In Selloff, each sale uses a bid increment scheme. Manually entered bids can be validated against it, and bids imported from platforms or XLSX files can be rounded up to the next valid step.
Request a demo
See Selloff running on a sale like yours.