What is an absentee bid or "proxy" bid?

Jennifer Waterman -

Absentee bids or Proxy bids are bids placed in advance by a bidder not physically at the auction. These bids are sealed and legally binding bids placed in the care of third parties or the auction company. This facilitates the auction process by allowing a greater variety in bidders while also allowing bidders to “bid in proxy,” or bid without being physically present.

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