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How does maximum bid work?

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.

  1. A car is registered with a reserve price of 20,000 $. This reserve price cannot be seen on your screen.
  2. 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.
  3. 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 $.
  4. 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 $.

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.


 
   

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E-mail: customercentre@autorola.com.au