What happens when I am the high bidder but the reserve has not been met?

As a reward for being the high bidder, you will enter into “Closed Negotiations” with the seller. During this time no one else will be able to bid on the vehicle and the seller has 18 hours to either accept your bid or make a counteroffer.

  • If they accept your bid, congratulations, you have won the auction!
  • If they make a counteroffer, the vehicle will remain in Closed Negotiations for three negotiation attempts or until one of the following events occurs:
    • Both parties come to an agreement on the price and the vehicle is sold
    • Either party rejects the other party’s offer and chooses not to continue negotiating
    • The buyer has not responded to the seller’s most recent counter offer within three hours. Our goal here is not to tie up the seller’s car if the buyer is not actively negotiating.

Once Closed Negotiations have ended, the vehicle will be available for open bidding. Please keep in mind that you can still submit additional bids but you will no longer have exclusive access to the vehicle.

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