A preliminary bid (aka pre-bid) is a type of bid that allows members to place a bid on a vehicle before it goes up on the auction block during the live auction. Pre-bidding is available up until one hour before the live auction starts.
You can either place a pre-bid that is one increment above the current pre-bid, which will become the new highest pre-bid, or you can set your bidding reserve by placing a pre-bid that is higher than one increment above the current bid.
The highest pre-bid placed during the pre-bidding period will be the starting price during the live auction.
Setting a pre-bid reserve is perfect for those who can’t participate during the live auction. When you place a pre-bid reserve our system will automatically bid for you during the live auction up to your maximum bid amount. It will only place a bid within your allowed amount in order to outbid someone else.
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Last Updated 6/29/21