You’ve been browsing through clean title, salvage, and repairable cars for sale on AutoBidMaster and now you wanna know: What’s the difference between a regular auction and “Buy it Now?”
Good news: we’re here to clear that up.
Auctions
Auctions have two phases: preliminary bidding and live auction. During the preliminary bidding phase, members can place bids on vehicles and the highest bid during this portion will be represented incrementally during the live auction. So, for example, if you place a bid for $5,000 on a vehicle but nobody bids above you at $4,200, you’ll only pay that much.
The live auction, on the other hand, happens in real-time. You’ll bid as high as you’d like and your buyer power allows, and the live auction is over once bidding stops. These auctions go quick!
Different auctions have different rules attached to them, as well. An auction marked “Pure Sale” is awarded to the highest bid, that’s that. An auction marked “On Minimum Bid” has a price that needs to be met before the vehicle is freely awarded. An auction marked “On Seller Approval” will need the seller to approve the winning bid by 6:00 PM PST the following business day.
Buy it Now
An auction marked “Buy It Now,” however, has a fixed price that allows you to skip the entire auction process. If the “Buy It Now” price looks good to you, you can buy the vehicle for that amount (plus all associated fees – use the Fee Calculator listed on every page to find the total) and that’s that!
The most important thing to note is that the sale price – be
it through a “Buy It Now” vehicle or an auction – still has all associated
auction and documentation fees attached to it. Keep that in mind when placing
your bid.
Another thing to note: we have different membership levels that give you breaks
in fees. Here’s a quick breakdown:
Our Basic Membership fees are $299 or 10%, whichever is greater.
Our Advanced Membership ($199/year) fees are $299 or 6%, whichever is greater.
Our Premium Membership ($349/year) fees are $299 or 3%, whichever is greater.
Keep in mind, you can only make one vehicle purchase with a Basic Membership, and you’re limited to a $4,000 max bid. Live auctions are also only available to Advanced and Premium members. So if you’re planning on buying a more expensive vehicle, you can save a significant amount of money with an upgraded membership.
So, when you’re looking for repairable salvage cars for sale, now you know what to do when you find the perfect one on AutoBidMaster. If it’s got a “Buy It Now” price that fits your budget, you can buy it right then and there. If you want to try to win it for less, or if there isn’t a “Buy It Now,” you can bid during pre-bidding or the live auction.
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