When you place a pre-bid, you lock in your maximum bid. During the live auction for the vehicle, our automated system bids on your behalf in small increments to outbid other members. If no one outbids you before your maximum bid is reached, you win the vehicle and pay the amount you outbid. For example, if you placed a maximum pre-bid of $5,000 and the bidding stops at $2,500 as the highest bid on your behalf, you only pay $2,500 for the vehicle plus all applicable fees.
Written by April RusselUpdated over a week ago