How bidding at salvage auto auctions (Copart, IAAI) work
Last edit: June 18 2024 • 2660 view
90% of all first-time users of CARS4.BID are unfamiliar with how bidding at salvage auto auctions work. Many think the process is similar to eBay: you bid, then someone outbids you, you bid again, and when the timer is up and you are the highest bidder, you win the auction.
Salvage auto auctions do not work as eBay, instead they have two auction phases.
Phases of bidding at salvage auto auctions
Phase 1: Preliminary Bidding. You place your maximum bid until the timer is up. Being the highest bidder when the timer reaches zero does not guarantee you win the car.
Phase 2: Live Bidding. It starts with the highest preliminary bid, and other bidders have a chance to increase the price. It lasts only 30-60 seconds and can be intimidating at first.
Check out the video I’ve made to see how it works including real live bidding examples:
At CARS4.BID, we offer you two ways to bid:
Option 1: Place your maximum bid before the clock is over, and our bidding manager will bid on your behalf up to your maximum amount during the LIVE auction part.WE DO NOT PLACE YOUR MAX BID IMMEDIATELY; instead, we incrementally bid up to your maximum.
90% of our users use this option. It is the simplest. You can reference ‘Bid to Win’ and ‘Avg sale price’ as your guide to what this car will be worth.
Option 2: Bid LIVE yourself. It is exciting and fun, and you have 100% control over what you do. If interested in live bidding, follow this link and register on our live bidding platform.
You can also check out the video I’ve done showing how it works:
Good luck bidding!
Autohacker’s Community
While you are here, I’d like to invite you to join my Autohacker’s facebook community. You gain access to the best supportive community out there with 1000+ members and you get my free mini-course that can make you a PRO salvage buyer within one hour.
