How do timed online car auctions actually work?
I keep seeing online car auctions but I don't fully understand the format. Is it live like a physical auction, or does it run over a period of time? How do I know when to bid, and what happens the moment I win?
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asked Feb 7, 2024, 4:24 PM by Amy F.
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Most online car auctions are timed, meaning each lot has a countdown clock (often several days). The highest bid when the clock hits zero wins. Bids in the final minutes can extend the timer to prevent sniping. When you win, a Sales Agent reaches out within a day or so to confirm details and collect the deposit.
Watch a few auctions first without bidding. That's the fastest way to understand the rhythm. Pay attention to how the countdown behaves in the final minutes.