Increments
Increments (Image source: Twitter)
The bid amount moves up by a certain increment that is predefined by the Indian Cricket Board. For example, for bids in Rs 1 Crore or lower category, the increments will be of INR 5 lakh.
Similarly, bids between Rs 1 Crore to 2 Crore, will see increments of Rs 10 Lakh. For bids between Rs 2 Crore and Rs 3 Crore, the increments will be of Rs 20 Lakh. Finally, when the bid moves above Rs 3 Crore, the increments will be announced by the auctioneer but will be no less than Rs 20 lakh.
