Preliminary Bidding details

• Majority of Auto Auctions can sell only to a limited number of licensed and registered buyers. We possess all proper licenses and registrations, and hence can buy any vehicle for you.

• The actual live auction for this vehicle is not open to public, so unfortunately there is no way for you to participate in it. But you can participate in Preliminary Bidding. We will collect your bids and then present them during the live auction.

Bid Submission

• Our model is COMPLETELY TRANSPARENT. You should enter your ABSOLUTE MAXIMUM bid. You are submitting a PROXY bid. When we bid at the live auction, we will try to buy the vehicle as cheap as possible, and will only bid incrementally against other buyers up to your maximum amount. If the vehicle sells for less, YOU WILL PAY EXACTLY THE PRICE IT SOLD FOR AT THE AUCTION.

• Your total purchase price will consist of the actual sale price at the auction, all applicable auction fees and RideSafely service fee, which depends on the sale price at the auction. Please use “Fee Calculator” to estimate your total purchase price.

• Most Auto Auctions have the preliminary bidding option available to its buyers. Our system will automatically poll them and update the current auction price on our site. However, during the live auction the bidding usually goes much higher. Please don`t rely heavily on the current auction price and place your ABSOLUTE MAXIMUM bid, because once the auction is over, we will not be able to increase your bid.

Example

Current preliminary bidding price at the auction is $3,000. Current RideSafely highest bid is $7,000. You place your ABSOLUTE MAXIMUM bid of $10,000. We go to live auction and win the vehicle for $5,000. You pay $5,000 plus corresponding auction and RideSafely fees.