bid increment

A bid increment is the smallest amount by which a new bid must exceed the current highest bid during an auction. It helps keep the bidding process organized and efficient, preventing continuous small increases that can drag out the auction. For example, if the current bid is $100 and the bid increment is $10, the next bid must be at least $110. Bid increments vary depending on the auction's rules and the value of the item, ensuring that bids progress meaningfully toward the final sale price.