Put, a proxy bid is your maximum bid price. Our auctions will always increase in the bid increments listed here.
When you place a proxy bid, the system will bid incrementally for you up to your maximum (proxy) bid. Your maximum bid is kept a secret from other users.
To place a proxy bid, use the + icon to increase your bid to whatever your maximum bid is.
You will then see your bid increase to the next bid increment and not to your maximum bid (unless your proxy bid is below the reserve price)