When an auction ends, the highest bid is sent to the seller for approval. Sellers then have 24 hours to send one of three responses via the OPENLANE Sell portal*:
• Accept the offer – This means the car is sold to the highest bidder.
• Decline the offer – This means the car is not sold and the highest bidder misses out. The seller can then auction the car again.
• Make a counteroffer – The seller proposes a new price to the buyer. This price must be higher than the initial winning bid.
If the seller chooses to make a counteroffer, a new 24-hour window begins. Within this 24-hour negotiation period, the buyer and seller must settle on a new price. If this doesn’t happen, the offer is automatically declined, and the sale is off the table.
When the buyer receives a counteroffer, they have four options:
• Accept the offer – This means the buyer agrees to buy the car for the price given in the counteroffer.
• Send a new counteroffer – The seller will then have the opportunity to accept or decline the offer, or make a new counteroffer of their own.
• Stand by the initial offer – This lets the seller know the buyer is not willing to pay more than their highest bid. The seller can then accept or decline the offer.
• Abandon the negotiation – The buyer chooses to walk away, the car is not sold, and the seller is free to auction it again.
Buyers and sellers can send one another counteroffers until the end of the 24-hour negotiation period. Each time a counteroffer is made, OPENLANE will notify the other party via email so they can react as quickly as possible.
* The OPENLANE Sell portal is not yet available in all countries. For UK sellers, our auction team will represent the seller.
Related questions:
What happens if the 24 hours are over without having an agreement?
Can I use my mobile phone to negotiate?
What happens if I stand on my offer?
