Auction Types
We conduct several different kinds of auction sales. This page explains how they work.
In Person Auctions
Live In Person Auctions
In a Live In Person Auction an auctioneer offers cars for sale one at a time to a crowd of people who are present at the auction site. Each vehicle is offered for sale for a short period of only several minutes. Interested buyers can participate in the auction by signalling their intent to bid to the auctioneer. Once bidding on a car has finished the auctioneer will either: A) sell the car to the highest bidder, B) present the highest bid to the owner of the car to accept or decline, or C) withdraw the car from sale as unsold. Often, Live In Person Auctions are combined with Live Online Auctions to allow bidders both in attendance and online to participate.
Online Auctions
Live Online Auctions
In a Live Online Auction an auctioneer offers cars for sale one at a time through an internet video feed. Each vehicle is offered for sale for a short period of only several minutes. Interested buyers can participate in the auction through use of a Bid button on the auction website. Once bidding on a car has finished the auctioneer will either: A) sell the car to the highest bidder, B) present the highest bid to the owner of the car to accept or decline, or C) withdraw the car from sale as unsold. Often, Live Online Auctions are combined with Live In Person Auctions to allow bidders both in attendance and online to participate.
Timed Online Auctions
Timed Online Auctions are controlled by a computer. Many cars are offered for sale at the same time and are available for bidding over several days. Interested buyers can participate in the auction through use of a Bid interface on the auction website. Each vehicle has a timer that counts down to the end of the auction for that particular vehicle. Once the timer expires the computer will either: A) sell the car to the highest bidder, B) present the highest bid to the owner of the car to accept or decline, or C) withdraw the car from sale as unsold.
InstaBid Online Auctions
InstaBid Auctions are controlled by a computer. Many cars are offered for sale at the same time and are available for bidding until they are either sold or withdrawn from the sale as unsold. Interested buyers can participate in the auction through use of a Bid interface on the auction website. All bids are confidential and are not disclosed to other bidders. The Bid interface tracks bids and only accepts new bids that are higher than any previous bids offered for that car. The owner of the vehicle may choose to accept the high bid and stop the auction at any time.