What does the Bid Increment option do?

If two identical high bids are received, Copart's Bid4U system offers an option named Bid Increment. Using the Bid Increment option, the bidder can place their preliminary bid and in the event of a tie, Bid4U will bid one more additional increment over the bidders maximum bid to break the tie. If a bidder is outbid in an amount that exceeds their maximum bid, they will receive an email.
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