Increment

Also known as Bid Increment.

The amounts that the auctioneer uses to increase the bidding, usually in a set sequence. In general, the auctioneer will request bids of about 10% higher than the previous bid. If, for instance, the bidding opens at £100, subsequent bids of £110, £120 £130, etc. would follow. The figure can be rounded up or down at the auctioneer's discretion.