Ways To Bid & Buy
What are the different ways to bid and buy on Copart? What are Max Bids? What are live bids? What is Buy It Now? What is a Monster Bid?
When the vehicle you want comes up on the live auction block, it’s time to start placing bids. Each auction has its own minimum bid increment based on the value of the vehicle. Keep bidding until the price gets too high for your taste, or you place the winning bid.
Copart’s VB3 (Virtual Bidding 3) technology offers several ways to bid and win to meet the needs of different Members and Sellers.
Max Bids
Max Bids let you set your top offer for a vehicle and step away. Our system will incrementally bid just enough to keep you in the top spot so you get the best deal. This is a great resource for those new to online auctions or who have other things to do that keep them from participating in live auctions. It even lets some power bidders participate in more auctions than they can handle all at once.
Live Bids
Virtual auctions on Copart happen in real time with an exciting game-like atmosphere as Members compete in friendly head-to-head bidding. You can start with the floor bid and slowly climb your way up. You can also place a Monster Bid and move the bidding ahead to your preferred price to pay. Once the auction time runs out and no one has bid higher than you, you win the vehicle. The final bid may be up to the Sellers approval on vehicles listed as On Approval or Minimum Bid.
Buy It Now
Rather than win the vehicle at auction, this option allows you to buy it immediately at a price set by the Seller. If you don’t like the price, you can send them your best offer with the Make An Offer tool, and the two of you can haggle to a price you can agree on. This option is only available on certain vehicles.
Counter Bids
When a vehicle is listed with a Minimum Bid or “On Approval,” the Seller may contact you to negotiate a final sales price. You can exchange offers and counter offers until you arrive at a price you can both accept.
Monster Bid
If you have a specific price in mind you’re willing to pay for a vehicle that you think might be a winning bid, you can place a Monster Bid to immediately advance the Current Bid to that amount. A Monster Bid cannot be undone once made, and other bidders may still outbid you.
