How auctions work
Open bidding: You have the option to raise at least the minimum auction price for the vehicle you are bidding on. You have the option to raise at least the minimum bid. If a new bid is received within 1-5 minutes before the bid expires, the bid closing time is extended by 1-5 minutes, so the auction will only end if no one has bid on the winning bid before the expiry time.
Closed (blind) bid: Each bidder places his own - maximum - bid regardless of the bids of others, and no bidder at any level of authority can see the current bids during the auction. The bid amount can be freely increased until the end of the bidding period, but the bid previously placed cannot be reduced or cancelled. At the end of the auction, the result is displayed immediately. In the case of a sealed bid, it is possible that more than one bidder may place the highest bid at the same price, in which case the earliest bid price is the official winner.
Bid increment: the bid increment is the minimum price by which a new bid must exceed the previous bid. If, for example, someone bids 1 000 000 HUF for a car and the bid increment is 20 000 HUF, you must bid at least 1 020 000 HUF if you want to be the highest bidder
Minimum price: the minimum amount the seller is willing to sell the item for at an auction. The minimum price is not always the same as the starting price, and its value is often not publicly known, only when it is reached, or even later. If the highest bid is below the minimum price, the product is not sold.
Flash price: in an auction, the price that if someone bids, they can buy the item immediately, without further bidding.
Bidding agent: a bidding agent is an automatic order that can be set up by users to automatically hold bids up to the amount specified by the buyer. A bidding agent should be set up if the buyer does not want/needs to follow the auction online, but sets a fixed amount and the "agent" represents him/her in the bidding up to that limit.
Bidding obligations / Bidding period: the bidding period for each bid is 5 working days from the date of submission of the bid! The Client has this time to decide whether or not to sell the winning vehicle to you. You can only withdraw from the purchase obligation after the closing of the bidding by paying a 15% buyer's premium and the bidding fee.
About the bidding process
Step 1: Log in and go to the details page of the vehicle you want to bid on.
Step 2: With the help of the bidding agent, type in the amount, rounded to the nearest thousand forints, which cannot be lower than the starting price or the current highest bid. In the case of a blind bid, enter the maximum price you would pay for the car you want.
Step 3: You specify the maximum amount you are willing to pay for the vehicle. In the case of an open bid, this is not the amount that will appear on the website. The bidding agent will bid the lowest possible amount, which is one bid increment above the previous bid. And it will continue until it reaches your maximum amount. In the case of a blind bid, you have already entered the maximum amount you would pay for the car, there is nothing more to do.
Step 4: Enter your bid by clicking on the "Submit" button. Remember: all bids are binding and cannot be deleted or removed from the website.
Step 5: Most auctions include a flash price, so if you think the car you want is worth it, all you have to do is click the flash price button and buy it immediately. The auction will then automatically end and you will be the winner.
Step 6: Follow up on your bids via the system messages sent to the email address you have provided. In the case of an open bid, it is recommended to follow the bidding on the car detail page a few minutes before the auction closes, as last minute bids may come in higher than your bid and you can still react to them if you wish, so that you still get the highest bid.
We wish you a good bidding experience and hope you find what you are looking for!