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Buy at the car auction
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How does maximum bid work?
Maximum bid obtains the best possible price for you. Autorola.co.nz automatically monitors your bids and ensures that you, as the highest bidder, get the car at a price equal to the second highest bid above the reserve price plus $25. This may sound a bit cryptic but can be easily illustrated using an example. A car is registered with a reserve price of $20,000. This reserve price cannot be seen on your screen. A buyer bids $18,000 for the car. In this case, the dealer's maximum bid is $18,000, and the highest bid shown on the screen is $18,000. The dealer will not get the car, as the reserve price has not been reached. You now place a maximum bid of $23,000 for the car. Your maximum bid is $23,000, but for the time being you are recorded as the highest bidder with a bid of $20,000. Autorola.co.nz ensures that you do not bid more than the reserve price of $20,000. If no other bids are made, you purchase the car for $20,000. A third buyer bids $22,000 for the car, which currently lists a highest bid of $20,000. This buyer’s maximum bid is $22,000, but Autorola.co.nz immediately bids up $25 on your behalf, giving you the highest bid of $22,025. If no further bids are made, you get the car for $22,025 and have saved $975 in relation to your maximum bid. Naturally bids will never be entered for you beyond your maximum bid.
   

Support

Weekdays 8am - 5pm | Telephone: + 61 3 9020 0820
E-mail: customercentre@autorola.com.au