Reserve Price

The reserve price is the minimum amount the Seller is willing to accept as the sale price. The winning bid will be the highest bid above this reserve price. If none of the bids reach the reserve price, then the Seller is not required to accept the bid and complete the sale.

Conditional Sale

A conditional sale exists when the auctioneer has accepted the winning bid, but the Seller still needs to review it (this process takes no more than three business days). If the Seller does not accept the winning bid, the vehicle will be auctioned again at a later date.

Preliminary Bid

You can place Preliminary Bids for any vehicle and at any time until the offer is taken off the block by the auctioneer. The system will use the "max bid" approach where it auto-bids for you, both pre-auction and live auction, until your max bid is reached. In addition to the convenience of not being required to accompany the live auction, you are able to maintain the bid at the minimum level possible.

For example, if the current offer is R$500.00 and you are willing to bid up R$1,000.00, you should enter R$1,000.00 as your max bid. The system will then place a bid in your name. If you are outbid, the system will continue to place bids until your maximum is reached. You will still have the option to increase your max bid. Your largest bid is not, in any case shared with other bidders.

Hard Bid

Even in hard bidding mode, you can make a "pre-bid" (place an incremental bid and await the auction so your "pre-bid" will be presented during the live auction). If no other bidder submits a larger bid than yours during the pre-auction phase and/or during the auction, you will be the winner. Considering that offers for all lots may occur electronically or in person, in cases where there is a tie between face-to-face and online bidder, the online or virtual bidder will prevail as the largest offer.