Sales Status indicates the type of auction for a given lot and can be found in the “Bid Information” section of the lot page.
Pure Sale: The seller has not set a “Minimum Bid” price and the lot will be awarded to the highest bidder at the close of the live auction.
On Approval: The seller has reserved the right to approve the final “High Bid” of the Live Auction. The seller has until 6pm PST on the following business day after the auction sale date to notify the auction of the approved “High Bid” or decline the sale.
On Minimum Bid: The seller has set a Minimum Bid on the auction. If the Minimum Bid is not met during the Live Auction, the seller has until 6pm PST on the following business day after the auction Sale Date to approve the “High Bid” or decline the sale.
- The seller's minimum bid price is not disclosed during the auction. However, if you are the high bidder when the auction ends the seller’s minimum bid will be revealed to you.
When you are the high bidder of an auction with a sale status that is either on Minimum Bid or On Approval you must wait for the seller to accept, counter, or reject your high bid.
At any point during the approval process, you may: increase your bid to the next highest increment, keep your current bid (do not increase the bid), or accept the seller's minimum bid. You can increase your bid or accept the seller's offer from your bid status page. If the seller accepts your high bid within the approval window you will be obligated to purchase the vehicle.
VIX Bid: When a bidder places a VIX bid, they are bidding on a vehicle that is are still in the seller's possession at the time of bidding and still in the process of obtaining paperwork for the vehicle. The VIX bid will be submitted into a sealed auction, and the high bidder will be notified via email within 3 business days of the auction's end.
Once the high bidder is notified, payment will be sent to AutoBidMaster, which will be due by 6pm next business day. After payment has been received, the seller has up to 45 days to obtain the paperwork and sell the vehicle. If they do obtain the paperwork and proceed with the sale we will notify the high bidder via email; if they do not obtain the paperwork within the 45-day period then we will notify the high bidder and refund their money.
Night Cap Sale: it occurs when a vehicle doesn’t sell during the Live Auction because they didn't meet the minimum bid amount. The vehicle will then enter a second chance preliminary bidding period that lasts until the next “Night Cap Sale”. A Night Cap Sales are like a Live Auction and continue until the last high bid.
There are 4 Night Cap Sales that happen simultaneously, and each sale includes vehicles by region: Pacific (includes HI & AK), Mountain, Central, and Eastern.
Night Cap Sales are scheduled: Monday through Thursday: 6PM PST