Maximum bid obtains the best possible price for you. Autorola.com.au 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.
If no further bids are made, you get the car for 22,100 $ and have saved 900 $ in relation to your maximum bid. Naturally bids will never be entered for you beyond your maximum bid.
- A car is registered with a reserve price of 20,000 $. This reserve price cannot be seen on your screen.
- A dealer 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 bid 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.com.au 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 dealer bids 22,000 $ for the car, which currently lists a highest bid of 20,000 $. This dealer' maximum bid is 22,000 $, but Autorola.com.au immediately bids up 25 $ on your behalf, giving you the highest bid of 22,100 $.