These are the auction terms. These terms are shown to the bidders when they attempt to place their first bid in the auction. The bidders are forced to read through and accept these terms before they can place their first bid or purchase a buy-it-now item.

Demo Auction with 'Open Bidding' Display Format. The inventory has 2 bid boxes per item - Bidders may enter the next available bid amount, or their highest bid amount as a Maximum Bid for which the software will automatically bid in the set increments until that Maximum Bid is reached.  

This is the Open Bidding display format that has 2 bid boxes per item. Bidders may enter the next available bid amount, or their highest bid amount as a Maximum Bid for which the software will automatically bid in the set increments until that Maximum Bid is reached.