In either type of eBay auction, bidders must constantly monitor the bidding activity if they intend to win the auction. All eBay auctions have a minimum bid increment, the amount by which one bid must exceed the previous bid, which is about percent of the bid amount. To make bidding easier, eBay allows bidders to make a proxy bid. In a proxy bid, the bidder specifies a maximum bid. If that maximum bid exceeds the current bid, the eBay site automatically enters a bid that is one minimum bid increment higher than the current bid. As new bidders enter the auction, the eBay site software continually enters higher bids for all bidders who placed proxy bids. Although this feature is designed to make bidding require less bidder attention, if a number of bidders enter proxy bids on one item, the bidding rises rapidly to the highest proxy bid offered This rapid rise in the current bid often occurs in the closing hours of an eBay auction, usually as the result of bidders raising their proxy bid levels