If I’m the only bidder at $100, do I automatically win, or does the seller need to approve it?

Not necessarily. Being the highest bidder—even at $100—does not guarantee you win the vehicle. The final outcome depends on the auction’s reserve price and approval process.

How Bidding Works on RideSafely

• When you place a pre-bid (e.g., $100), RideSafely will automatically bid on your behalf during the live auction, increasing your bid only in the required increments—up to your maximum bid.
• Your bid competes with others and is submitted directly to the insurance auction platform where the live auction occurs.

What Happens if Bidding Goes Over Your Pre-Bid

• If the live auction surpasses your maximum pre-bid (e.g., $100), you can still join the live auction and continue bidding—as long as you have sufficient deposit funds in your RideSafely account.
• Your live bid becomes active only when the item is on the block and your deposit is in place.

Reserve Price and Seller Approval

• Some vehicles have a reserve price, which is the minimum amount the seller is willing to accept.
• If your highest bid doesn’t meet the reserve price, the seller can accept it, decline it, or make a counteroffer.
• This approval process can take up to 48 hours after the auction ends.

Related FAQs

• Why Was My Highest Bid Not Approved?

If you have questions about bid approvals or auction rules, feel free to call RideSafely Support at (215) 289-0300 for expert assistance.

Thank you,
The RideSafely Team
feedback[at]ridesafely.com