As one of Copart’s most trusted brokers, AutoBidMaster.com provides its clients with all the information and support they could potentially need to make their purchase of a salvaged vehicle. You can bid on any lots that Copart has to offer from any point of the globe, 24/7! In this blog post, we will be breaking down the different sorts of bidding statuses that can be found on our website, and what exactly each one stands for.
When choosing a vehicle to buy via AutoBidMaster.com, one of the most important things you should pay attention to is the sale status of the vehicle. The sale status of the vehicle is important for you as a potential buyer because of multiple reasons. The 3 sale statuses you may find under lots on AutoBidMaster are “On Approval”, “On Minimum Bid” and “Pure sale”.
If you see a vehicle on sale at AutoBidMaster.com with the sale status being on “Pure Sale”, that means there is no minimum bid or reserve price on the vehicle. The highest bidder at the end of the live auction will win the vehicle.
A vehicle that is being sold with the sale status being “On Minimum Bid” means that there is a reserve price that the vehicle owner has placed. If the minimum bid that was placed by the owner was not met to its full extent, the owner has until 5:00 pm PST one business day after the sale to accept or decline the bid.
Vehicles that are on sale with the sale status being “On Approval” are vehicles that will only be sold once the seller notifies Copart that he/she accepts the bid that was offered during the preliminary/live bidding stages. The seller has up to three business days (including the day of the sale) to inform Copart about his or her decision about accepting or declining the highest bid that was offered.
If you are new to AutoBidmaster and still have questions about our websites terminology or how our service works, feel free to in contact with our customer support at +1 503 298 4300