You found some interesting vehicles for your car business. And now you’re ready to start buying vehicles on our online car auction. But what type of auction are you looking at? And how do the different types of auctions affect your chances of winning?
You’ll find four different types of auctions at ADESA. Once you know how they work, you’ll know the best approach to bidding and how to increase your chances of winning.
1. Dynamic auctions
Most auctions on our website are Dynamic auctions. They are simple, straightforward and run like regular auctions: you bid against other bidders until the auction finishes and you can see what the current highest bid is at any time. Bidding stops when the auction ends.
You can enter a maximum bid manually or let the bid agent do the work for you. You decide which approach works best for you.
After the auction finishes? It will usually take less than two business days before you know whether your bid was accepted and you’re the new owner of the vehicle.
2. Blind auctions
A Blind auction offers you one very particular advantage: no one apart from you can see the bid you’ve placed on a vehicle. That also means that you can’t see other customers' bids either. What we do show you, is whether you're the highest bidder or not, using the usual colours (except for certain auction types, such as x-Time auctions). As always, it will take about two working days after the end of the auction before you’ll know whether the seller has accepted your offer or not.
3. Buy Now auctions
In a Buy Now auction, you can immediately reserve a car by bidding the Buy Now price. In other words, when you bid the Buy Now price, you are 100% sure that the vehicle will be assigned to you at the end of the auction. You could also place a bid that is lower than the Buy Now price. In this case, you will usually find out if the car was assigned to you within 2 business days after the auction is finished.
4. Target auctions
In a target auction, you are guaranteed to get the vehicle you bid on. But only if you’re the highest bidder and your bid is equal to – or higher than – the Target price. Where can you find the Target price? It’s always mentioned near the bid button.
Next to these auction types, we have two ways in which the auctions can end: the Ultimo phase and the x-Time phase.
If you are the winner of an auction, you immediately get 5 additional minutes to give your best and final offer, in order to increase your assignment chances dramatically.
More information about Ultimo.
Worried about auction snipers? They’re the people who wait until the last moment to suddenly out-bid you. No need, because during x-Time you will get your chance to put your best bid in. x-Time is a special phase that starts after the original duration of the auction has finished. During x-Time, the vehicles in that auction are auctioned again.
The exact procedure can be found here! The highest bidder at the end of the x-Time is almost certain of assignment.
TIP: Use “My Bids” to follow up and improve your offer during x-Time and win the auction!