To start bidding, you must complete a few steps:
1. Register in our website.
2. Confirm your phone number.
3. Top up your virtual wallet by 25 EUR. This is a participant fee which can later be used as a success payment after winning an auction.
4. Select the preferred vehicle and start bidding.
5. Make the highest bid and win the auction.
At the time of presenting vehicle in an auction, every seller can set the minimum sum for which he is ready to sell the vehicle.
If the auction winner does not reach the minimum amount, seller has a right not to sell the vehicle. If the auction winner reaches the minimum reserve amount – the auction is won, and the transaction is completed.
No, seller has a right not to sell his vehicle if the collected amount does not reach the minimum sale reserve.
If at the end of the auction it becomes clear that the auction winner’s bid was lower than seller’s reserve amount, you have a few options: to keep your bid, to raise your bid or to accept the reserve amount. In case you keep your bid or raise it but not enough to reach the minimum reserve, the seller has a right to decide whether he wants to sell the vehicle.
The buyer, after winning the auction commits to sign the sale and purchase agreement with the vehicle seller in 7 calendar days, to pay the offered and confirmed price for the vehicle into the bank account provided by the seller or by cash and to collect the vehicle until the agreed deadline
During the auction, the seller does not have a right to sell the vehicle. If after the auction it becomes clear that the vehicle is already sold or transferred, the seller must pay forfeit fee of 100 EUR to the auction organiser by transferring it to the billing account and providing vehicle ID (auction identification number) in the payment purpose field.
If the vehicle does not match its description on the website or the buyer finds out about substantial hidden defects of the vehicle only after its physical inspection, then the buyer has a right to reject buying the vehicle. In that case, the buyer will get a refund to his virtual wallet. The buyer must immediately (in 1 working day from the occurrence of the fact at the latest) report such defects via the following email: [email protected] Evidence of defects must be attached to the email, otherwise there must be a reason provided for not doing so, and a refund of success payment must be requested. In case that the buyer’s request is valid, funds will be transferred to his virtual wallet in 7 calendar days from the day of request. In case that hidden defects were not found in the vehicle, the buyer must buy the vehicle. In violation of this obligation, the buyer must pay the forfeit fee equal to the amount of success payment to the auction organiser.
Auction fees are not applicable to the seller. He can create an auction completely free.
If the buyer wishes to participate in an auction, he must pay the one-time registration fee, which can be later used to cover a success payment. Success payment is a fee that is applicable in case of winning an auction and its amount is dependent on the value of the auction that was won:
|Vehicle sale price (€)||Success payment amount (calculated as a percentage of vehicle sale price)|
|0 – 1200||5%|
|1201 – 2800||4.5%|
|2801 – 5900||3.5%|
|5901 - 14500||3%|
If you have the maximum price that you are ready to pay for the selected vehicle, you can use the autobidder. The system will automatically raise the price in case of other participants placing higher bids than yours, until your maximum price is reached. By using autobidder you will not need to monitor biddings and actively participate in an auction. You will be informed by email when the set limit is reached.
It is possible to create an auction for the same vehicle up to 3 times. New auction can be announced after 3 working days from the end of the previous auction.
No, there is no starting price.
Since the auction purpose is to avoid phone calls and useless inspections, it is of paramount importance for the vehicle which is being presented at the auction to have a very comprehensive description with all defects listed in it and without hiding any details.
The more accurate description and photos – the more successful auction is to be expected.
The seller guarantees that the vehicle which he offers to sell has all documents required for vehicle registration in the Republic of Lithuania.
Auctions take place on all days of the week however they are being confirmed only on working days from 9am to 5pm.
We seek that no one should have to pay fines, therefore we expect honesty from our sellers and buyers.
However, in case that one of the parties violates the rules, they may be subject to the following fines:
The seller must pay 100 EUR fine for violation of the rules if it turns out that:
- the seller has already sold the vehicle by other sources,
- the seller did not sign the sale and purchase agreement in 7 calendar days or did not transfer the vehicle after receiving the payment.
If after winning the auction the buyer does not purchase the vehicle in 7 calendar days, he must pay 25 EUR/day forfeit fee until the sale and purchase agreement is signed.
If the buyer rejects to purchase the vehicle without providing serious reasons (e.g., revealed vehicle defects, etc), he must pay the fine equal to success fee to the auction organiser.
By confirming the bid I commit to purchase the vehicle in case of winning (except for cases when not described/hidden defects are identified) and I take responsibility for consequences of false bidding.