How Auction Works on My105
Placing your bid
1.
Register
A valid credit or debit card is required for verification purposes and payment of the buyer's premium should you win the auction.
2.
Due dilligence & logistics
Read the description carefully, contact the seller with any questions you may have, plan for payment and vehicle delivery. The description of the vehicle is, to the best of the seller’s knowledge, accurate and not misleading. We will always request a range of details about the vehicle from the seller, however potential buyers must independently satisfy themselves as to the accuracy of the description. We recommend that you should view or arrange inspections as well as conduct any research that you feel is necessary before committing to bid or buy.
3.
Place your bid
Bids are binding. Be ready to win. A $250 pre-authorisation is placed on your card which is then cancelled as soon as the auction ends.
During the auction
- All auctions have a reserve price, unless stated otherwise
- You'll be notified if you're outbid, and before auction closure
- Sniping protection extends the auction to allow final bids
When the auction ends
- If the reserve is met, the highest bidder has won
- Otherwise, the highest bidder gets the first right to negotiate
- If there is no deal, other participants may also get a chance
If you win
- My105 provides you and the seller with each other's contact information
- You and the seller work together to complete the sale.
- You are required to pay the seller the full hammer price within 7 days of the auction ending, unless the seller agrees to an alternative.
- Buyers are responsible for all shipping and other costs, including insurance and importation if applicable.
Buyer's premium
- For successful sales My105 charges a 6% buyer's premium on top of the full hammer price (minimum of $1,100, maximum of $12,000)
- If My105 successfully brokers a deal after an auction passes in the full buyer's premium also applies
Got questions?
Please contact us