1. Auction Ended -> Waiting on seller to respond to high bid (1st exchange in closed):
- Seller has 3 hours to respond.
- Accepts offer -> Sold
- Counter -> Stays in closed
- Offer expires, -> Goes into open negotiation and the offer is still valid for another 15 hours
2. Seller counters within the 3 hours -> Waiting on buyer (2nd exchange):
- Buyer has 1 hour to respond to sellers counter
- Accepts counter -> Sold
- Counters (makes new offer) -> Stays in closed
- Rejects counter -> Goes into open negotiations (no pending counter or offers at this point)
- Counter expires -> Goes into open negotiation and counter is still valid for another 17 hours
3. Buyer counters the counter (makes new offer) within the 1 hour -> Waiting on seller (3rd and final exchange):
- Seller has 3 hours to respond to buyers new offer
- Accepts offer -> Sold
- Counters -> Goes into open negotiation and counter is still valid for 18 hours
- Rejects offer -> Goes into open negotiations (no pending counter or offers at this point)
- Offer expires -> Goes into open negotiation and offer is still valid for another 15 hours
Notes:
- If an offer expires in open or closed negotiations the buyer can re-submit the same offer
- If there aren’t any active offers/counters on a vehicle, a seller can counter the high bidder at their high bid
- Both offers and counters in open negotiations will always expire in 18 hours