Our proxy bidding system means that the dealer who wins a vehicle in the live sale will pay just £50 more than the next-highest bid, when above reserve price. So, if the winning bidder submitted £15,000, but the second-highest bidder bid £13,500, the winning bidder will pay just £13,550.
However, in the case of a gap of £50 or less between the two highest bidders, the winning bidder will pay their bid. E.g. if the winning bidder submitted £15,000, but the second-highest bidder bid anywhere between £14,950 and £14,999, then the winning bidder will pay £15,000 after all.
If the winning bidder placed a bid below the vehicle’s reserve price, which the seller accepts, they will pay that bid in full, regardless of the levels of competing bids. E.g. if the reserve price is £15,000 and the winning bidder bid £14,000, the winner will pay the full £14,000, even if the next highest bidder made a bid of £13,000.
If two dealers make identical highest bids, the first one who placed their bid wins the vehicle.
If you are the sole bidder on a vehicle, you will win it at the end of the live sale and pay what you bid, as above, regardless of whether the bid is above or below reserve price. Please note that for all winning bids below reserve price, the seller may take longer to approve the bid than you expect. Our team will be in touch with them after 24 hours to answer any questions they may have, and will update you with news as soon as possible.