FREQUENTLY ASKED QUESTIONS
Do I need to create a CarGuru.bid account to bid?
Yes, you need to have a CarGuru.bid account. Please contact us at any of our contact details and our team will be happy to guide you through the entire registration and transaction process. Creating an account is very simple and it takes just a few minutes to register, even on your own.
What do I need to register?
To be able to bid, the second step of the registration process requires a company signature card and both sides of the signer's ID card. Not only on the site, we will also accept and file the required documents to your profile via email!
Who can participate in the auctions as a SELLER?
Small to medium to large companies such as public companies, fleet management companies, rental car companies, banks, leasing companies. If you do not belong to any of these categories but would like us to help you sell your car, please contact us at our central contact: hello@carguru.bid
Who is eligible to participate in our auctions as a PERSON?
Only car dealers can participate as Buyer.
Who can participate in the auctions as BUYERS?
Only car dealers.
Is it compulsory to have a vehicle assessed?
Yes, a vehicle condition survey by an external certified partner is compulsory in all cases, as it allows us to provide reliable information on the actual condition of the vehicle to the bidders and to ensure that the best possible price is offered.
When do the bids close?
Our service closes the auctions for Users two days a week, on Tuesday and Thursday.
Do I have to surrender the car and can't use it after the auction?
Yes, your car will undergo a condition assessment and preparation for sale process once it arrives at our premises.
Can I withdraw from the sale or purchase?
Yes, however, failure to close the deal due to irresponsibility or other fault of your own will result in a fee being charged and user access being restricted or suspended (see GTC for further details). For the long-term success of your bidding, we strongly urge all bidders to adhere to responsible business practices!
How long will it take to get the car?
Once the auction has closed and the winning bid has been confirmed, the car will be invoiced by our partner. After confirmation of payment of the purchase price and the auction fee, the buyer has 5 working days to collect the car. On request, nationwide delivery is also possible at a price agreed with our customer service.
What happens if the Buyer complains about the condition of the car?
If the condition of the car is not as stated in the condition survey, please let us know and we will try to find a solution to the problem. We will try to give you the most complete picture when you upload the car to avoid disappointment.
Are the pictures on this website a true representation of the real thing?
Yes, the cars are photographed immediately before the auction by our certified external partner, showing as much detail as possible. Any faults or damage are recorded separately and can be checked during the auction via the links provided. Please always check the condition of the car before bidding!
How can I bid?
For more information on the basic auction concepts and the bidding process, please visit the PRICING&DETAILS page.
What is an open auction and how does it work?
Open bidding is a form of auctioning where all participants can see the current highest bid. Interested parties can choose to bid more for the vehicle and raise their bid by at least the minimum bid increment. If a new bid is received 1-5 minutes before the bidding expires, the bidding closing time is extended by 1-5 minutes.
What is the difference between an open and a sealed bid?
In a sealed bid, bidders place their own maximum bid without seeing the other bids. The bid amount can be increased until the end of the bidding period, but previous bids cannot be reduced or cancelled. The result is displayed immediately at the end of the auction. If more than one bid of the same price is received, the earliest bid wins.
How does the bidding ladder work?
The bid increment is the minimum amount by which a new bid must outbid the previous one. For example, if the highest bid is €1 000 000 and the bid increment is €20 000, the next bid must be at least €1 020 000.
What is the minimum price and how is the bid determined?
The minimum price is the amount below which the seller is not willing to sell the item. This amount is often hidden and only becomes public when a bid reaches this amount. If the highest bid is below the minimum price, the product will not be sold.
What is a flash price and how does it affect the auction?
This speeds up the selling process and gives buyers the opportunity to buy immediately.
When should I set up a bidding agent?
You should set up a bidding agent if you are unable to follow the auction but would like to participate. You can set a maximum amount you are willing to pay and the agent will automatically bid for you, up to that limit.
What is the bidding constraint?
Binding means that all bids submitted are binding for 5 working days after the bid is placed. During this period, the seller decides whether to accept the offer. You can only withdraw from the commitment to buy by paying a 15% buyer's premium and the bidding fee after the bidding closes.