The “PRELIMINARY BID” is the bid you place on our website and should be the maximum amount you are willing to pay for the vehicle. We then take your preliminary bid to the auction where we compete against other dealers that may want to purchase the same vehicle.
Please note that we bid incrementally up to your maximum bid, we do not bid your maximum bid right away. If the winning bid is less than your maximum bid and the seller accepts your winning bid, then you get the vehicle for the winning bid amount.
Also, please note that if the winning bid is below your maximum bid and the seller has a reserve price on the vehicle, by entering the maximum bid, you give us permission to negotiate for the vehicle on your behalf up to and including your maximum bid.
If you have any additional questions, please do not hesitate to contact us at (215) 289-0300.