What does it mean to 'Place Max Bid?'

When placing a bid on an Auction lot, we recommend you place your Max Bid on a lot as early as possible. 

By placing your Max Bid, we'll ensure that you stay the winner by incrementally bidding the minimum for you until your Max Bid has been beaten. 

Here are three examples:

Example 1

1. Current Bid = $125
2. You place your Max Bid of $130
3. You are now winning at $126
4. Bidder 2 places a bid of $127 and they are immediately outbid by you at $128
5. Bidder 2 places a bid of $129 and they are immediately outbid by you at $130

Example 2

1. Current Bid = $125
2. You place your max Bid of $130
3. You are now winning at $126
4. Bidder 2 places a Max Bid of $130 and is immediately outbid by you at $130

Example 3:

1. Current bid = $125
2. You place your max bid at $130
3. You are now winning at $126
4. Another bidder places bid at $127 and they are immediately outbid by you at $128
5. No other bids are submitted.  You win at $128 instead of your max bid of $130