Bid increments at auctions
Anyone who has participated in any type of auction is probably familiar with bid increments. An increment is an increase of some amount, over some number. For example, if a 2009 Case IH Magnum 335 is selling at auction, and the auctioneer has $175,000 is asking for $177,500, then the bid increment is $2,500 ($177,500 minus $175,000).
