A proxy bid is a bid placed by user from the project sponsor company on behalf of a bidder. You may need to submit proxy bids if a bidder is having internet connectivity problems during the Live Event. You can submit proxy bids manually or via Excel (if Excel bidding has been enabled).

Placing bids for bidders is as simple as selecting the bidder, selecting the lot, and entering the bid. For your convenience, the minimum bid decrement and current lowest bid are provided for the lot. After submitting the bid, Iasta SmartSource will verify your bid accuracy and record the bid as if the bidders had placed the bid themselves.

Consider the following items when you are proxy bidding:

• Project Administrators see much more information than bidders can view during a Live Event. Therefore, be careful not to divulge any information while on the phone with bidders which might affect the fairness of the project. Bidders typically only know their rank, bid, and the current best bid. They do not usually know the value of the other bids or the identities of the other bidders.
• Although you can unpublish bids using Bid Management, it's a good idea to double-check exact bids with the bidders before submitting them to the project.
• If the project is using MetaBid Factors or Formulas to make automatic adjustments to bids submitted by the selected bidder, the bids and numbers displayed on the window are modified as they should appear to the bidder. Therefore, when reading the current best bid and minimum bid decrement or increment to the bidder, make sure to use the numbers from the window and not the bids in the administrative Live Event. Due to possible confusion, it may also make sense to create a connection using the bidder's user name and password, then enter the Live Event impersonating the bidder to see the exact MetaBids as the bidder would see them.
  See Automatic Bid Adjustments with Metabid Factors & Formulas for more information.

»To submit a proxy bid (manual)

1. Select and expand the project in the Connections and Projects tree and click the Live Event branch.
2. Click on the toolbar to open the Submit a Proxy Bid window.

Submit a Proxy Bid Window

3. In the Bidder field: select the bidder from the drop down menu.
4. In the Lot field: select the lot.
5. If the lot is a Standard lot, in the Bid Amount box, type the bid amount in the currency of the lot or if the lot is an ItemBid lot, click to open the ItemBid Properties window.

ItemBid Properties Window

Bidders type the individual bids into the appropriate Bid boxes in ItemBid Properties. For instructions on using New Lot Bid and % off Bid, refer to Using the ItemBid Estimator.

6. Click Finish to return to the Submit a Proxy Bid window.
7. Click Submit Bid. A bid confirmation window appears>. Click OK to confirm the bid and Iasta SmartSource displays a message stating that your bid has been recorded.

»To submit a Proxy Bid (Excel)

If Excel bidding has been enabled for a project, you can import the bidder's Excel spreadsheet directly into Iasta SmartSource.

1. Select and expand the project in the Connections and Projects tree. Click the Live Event branch, then click on the toolbar
   or click on the toolbar to open the Project Bids window.

Project Bids Window

2. Click to open the Import Bids from Excel window.

Import Bids from Excel Window

3. In the Bidder field, select the bidder.
4. In the Excel File field: Click to navigate to the Excel file. Select it and click Open.
5. Iasta SmartSource returns to the Import Bids from Excel window with the path and filename for the Excel file you selected.
6. Click Finish to open the The Project Bids window.
7. Click Finish.

Related Topics

Bid Management