Flippa is one of the primary sources for sales of fully functioning websites (as opposed to just domain name rights). Starting tomorrow, June 18th, 2012, Flippa is making a major change to their bidding policy: Automatic Bid Management will be in effect for all auctions.

Old policy: Place one bid, and the auction will extend for 4 hours. If you are outbid (Even by a nominal amount) the auction will end while you are sleeping/working.

New policy: Potential buyer places their maximum bid. The current bid on the auction is increased by a nominal interval ($5) and the buyer’s maximum bid is increased each time a new bid is placed. This happens until another bidder bids an amount higher than the first bidder.

Check out Flippa’s Blog for more information about their new automatic bid management policy.