I was just bidding one my first few auctions on GoDaddy and I understand the proxy bid kicking in automatically as soon as I enter the minimum additional $5 increment, but why does a 'proxy bid' take a few minutes sometimes after I put my bid in? Seems suspicious. Needless to say, I went from thinking I was going to get a bargain for $15 with just one other bidder when in reality, I had to keep bidding more until I got to $166 and called it quits.
Also, in relation to this, when a proxy bid keeps outbidding someone else, does the person who put in the proxy bid pay the amount they bid or do they pay the last bid before them, or some other price?