FAQ’s

Is registration on BIDaCLASSICS free of charge?

Yes!

Registration is free for private individuals and dealers.

How long does it take to activate my account?

We check every single registration so that we can largely rule out fraud cases. It is of no use to you as a seller to come across a buyer who does not keep his bid in the end and for you as a buyer it is of no use if a seller not deliver the vehicle to you. As a rule, activation is carried out on working days between 9 a.m. and 6 p.m. within 4-6 hours and we thank you for your understanding.

What is special about BIDaCLASSICS for dealers?

BIDaCLASSICS is the new market place for the commercial and private classic car and young classic car trade as well as for modern classics, sports cars and hypercars. This platform is both a marketplace for dealers and private individuals. Dealers can also decide to either sell the vehicles they have bought to commercial dealer colleagues without warranty or, as usual, to private customers. Fast sales and good sales prices are the result.

In addition, advertisements for dealers are FREE with us and there are NO sales fees if the vehicle was sold through our portal through an advertisement – that’s fair! Sales fees only apply to certain special forms that the dealer offers in addition to the normal and free ad. That would be e.g. the buy it now option or the basement sale. Both options are explained in more detail here in the FAQ’s.

The creation of auctions is also FREE for a dealer and there are only sales fees if a successful sale by auction has taken place. If the bids were too low and the vehicle was not sold, there are no fees for the dealer!

What is special about BIDaCLASSICS for private individuals?

BIDaCLASSICS is the innovative and new marketplace for the private classic car and young classic car trade as well as for modern classics, sports cars and hypercars. As a private individual, you can sell your vehicle to both dealers and private individuals. In both cases, the sale takes place under exclusion of the warranty. Many dealers may be looking for a vehicle like yours right now and therefore offer higher bids in an auction than you would set in an advertisement as the selling price.

We do NOT charge listing fees for advertisements and auctions and the sales fees for auctions are only due for a successful sale and are much lower than on other known auction platforms. A comparison is worthwhile!

What are the requirements for a vehicle to be auctioned?

BIDaCLASSICS sees itself as a small but fine auction and advertisement portal exclusively for vehicles that fit into the category of classic cars, Youngtimers, modern classics or sports cars and hypercars. We therefore reserve the right to delete vehicles that do not correspond to these vehicle categories.

While there are no major requirements for ads, it is advisable to have a current expert opinion from an independent testing organization when creating an auction and to include this in the auction description. Since an online auction has the advantage over a physical auction that you do not have to bring the vehicles to an auction location, you are already reducing your costs considerably. It is therefore advisable to present the online bidder with a neutral and realistic impression of the vehicle to be auctioned. Of course, you can hide / hide the value determined and shown in the report, but the description of the vehicle and the visual and technical determination of the condition should be shown. This is the only way to ensure that an online bidder is ultimately satisfied with the personal vehicle pickup / payment and will not withdraw from the purchase. Always keep in mind that the auction description is binding and that you can only ensure in this way that the auction runs smoothly until the vehicle is handed over. With an online auction you can reach your potential buyers across Europe / worldwide and should reward this added value with the quality of your auction description.

Do I have to sell my vehicle for the highest bid at BIDaCLASSICS?

No!

As the owner of the vehicle, you are free to decide whether you want to sell here at BIDaCLASSICS or not. Unlike on other auction portals, there is no risk that your vehicle will be sold below the minimum price that you expected or wished for. Nevertheless, the bid here on BIDaCLASSICS represents a realistic and Europe-wide average of the actual market value of your vehicle, since both regional and international customers bid for your vehicle.

 

At the end of each auction, the seller has 3 options:

  • „Agree to sell“ (your minimum price has been reached or only slightly undercut)
  • „Decline sale“ (the highest bid achieved is unattractive for you)
  • „Renegotiation“

If you click the „Renegotiation“ button at the end of an auction, our system will send the bidders with the last three highest bids a request for „Renegotiation“. This allows you to give the bidders the chance to make the sale possible by means of an immediate purchase price after the auction has ended. At least 3 bidders (highest bid, second and third bid) receive this invitation to renegotiation, but several bidders can also have entered the same last price as the highest bid or second or third bid). This renegotiation is only valid for 24 hours and the bidders are informed that the other highest bidders have also been given this option. „First come – first serve“

What is a dynamic ad?

If you have the suspicion that the demand for your vehicle is too low due to your asking price, then the „Dynamic advertisement“ option is ideal for you: In this sales mode, you specify how long the advertisement is active at your desired price and when it is automatically converted into a blind auction for X days. The blind auction has the advantage that no bidder knows the bid status and he have to submit a binding bid. The bidder only receives an indication whether his bid is too low or whether he is currently the highest bidder. So, in a blind auction you don’t burn the price like in conventional and visible auctions.

To ensure that you do not have any unnecessary time and effort at the end of the auction, you can use the settings to determine the price level at which you would like to be asked to act. You therefore have the option of setting that after the auction phase you will only be informed of bids that are attractive to you (e.g. from 70%, 75%, 80%, 85%, 90% or 95% of the previous advertisement price). You have then the three options whether you are selling for the highest bid, want to refuse the sale or start a renegotiation. If the bids are below your threshold, the unsuccessful blind auction is automatically converted back into the ad phase. You determine the length of time, how long the blind auction phase should last and can decide between one day and 7 days.

With this tool, you no longer have to submit to the annoying „what’s the last price“ request, but simply let those interested parties bid with other interested parties for the highest price. Since we are an online auction platform, agreements cannot be made between bidders, as is often the case with physical auctions. Our goal is to achieve the highest and fastest proceeds for you as a seller.

If your vehicle is successfully sold in auction mode, a sales fee in according to the auction price list applies. If the auction was unsuccessful or if the sale took place during the ad phase, you will not incur any fees.

What is a basement advertisement?

In the case of a basement advertisement the price goes “down”, that means, it is reduced by a fixed amount every day until it has reached the minimum price of the seller.

This feature creates tension as well as fun when buying and selling because which of the prospective buyers has the best nerves and waits until a price is reached at which he wants to strike first. Here an example: The seller has a minimum price for his vehicle in mind, e.g. EUR 15,000. He can now display his vehicle e.g. start as a „basement advertisement“ for EUR 17,000. When creating the advertisement, he determines how many days with which price reduction the advertisement goes down. As an example, we take 10 days with a daily reduction of EUR 200. Interested parties who are interested in the vehicle see that it is a “basement advertisement” and can now decide to wait 10 days or to confirm the purchase on the 5th or 3rd day with using the button „Buy now“. Strong nerves are required for the buyer and the seller also learns in the time whether he will sell at his minimum price or, for example, can generate 600 to 800 EUR more revenue because his vehicle generated high customer demand and a buyer has completed the purchase on 6th or 7th day. If no buyer has reacted in the basement phase, the advertisement is initially online as a normal advertisement for a few days before it turns back into a basement sale.

What is a Buy-Now Ad?

Add an instant purchase option to your advertisement and use this feature to avoid annoying price and renegotiations on site. The buy now price is binding for the buyer and is associated with a payment and collection period for you, which you should also include in your advertisement, e.g. pick up and payment within 7 working days. Therefore, you must pay attention to the following points when using this feature:

  1.) The vehicle description corresponds to the actual condition, because a buyer only has the right to withdraw from his binding buy-now promise if the actual condition of the vehicle deviates significantly from the description. Therefore, please also use the opportunity to add enough pictures of the vehicle and any damage, including a detailed description, to the ad.

  2.) The vehicles that you offer for buy-now must also be reserved as long as the vehicle is online with this option at BIDaCLASSICS. If there is a prospective buyer at your location and you enter into a contract with a vehicle that has a buy-now option, you MUST make sure that the buy-now option from the advertisement or the complete advertisement is deactivated. The Buy It Now option is a legally binding offer to which you are also legally bound.

 

You can add or delete this option at any time in the advertisements. If the buyer uses a buy-now option, a small sales fee is due and in return you no longer have to conduct annoying price negotiations on site.

How many bidders will be invited to the "renegotiation" option?

Our system automatically sends an invitation to the bidders who placed the last three highest bids. So, there are at least 3 bidders, but can often 4 or more bidders. Was for a vehicle e.g. 50,000 Euro called and the highest bidder offered 46,000 Euro and 3 bidders had placed their bidding agent or their respective highest bid at 45,000 Euro, then our system would send the invitation to renegotiation to a total of 4 bidders: the highest bidder and the 3 bidders with the 45,000 Euro bid.

Does it cost me anything to buy through auction at BIDaCLASSICS?

The purchase by a normal advertisement via BIDaCLASSICS is free of charge.

However, there is the possibility of special options during the creation of the advertisement which are subject to a fee as follows

  • Purchase via the buy-now option and basement function in advertisements: EUR 99
  • If the purchase via dynamic advertisement takes place within the blind auction phase through the seller’s agreement to the highest bid of the buyer or in the renegotiation phase through the buyer’s agreement to the buy-it-now option, the respective purchase fees that arise from the sale by auction apply and are as follows:

The following purchase fees (surcharge) are only payable by the buyer in case of a successful auction:

  • No surcharge for selling prices up to EUR 4,999
  • For sales prices ranging from € 5,000 – 9,999, the extra charge is € 49
  • For sales prices ranging from € 10,000 to 24,999, the extra charge is € 149
  • For sales prices ranging from € 25,000 to 49,999, the extra charge is € 199
  • For sales prices ranging from € 50,000 to 99,999, the extra charge is € 249
  • For sales prices ranging from € 100,000 to 199,999, the extra charge is € 499
  • From sales prices above € 200,000, the capped extra charge is € 999

 

all prices plus the applicable VAT.

Does selling by auction on BIDaCLASSICS cost me anything?

The sale by a normal advertisement on BIDaCLASSICS is free of charge.

However, there is the possibility of special options when placing an advertisement which are subject to a fee as follows

  • Creation and publication of advertisements and auctions: free of charge
  • Sale via the buy-now option and basement function in advertisements: EUR 249
  • If, in the case of a dynamic advertisement, the sale takes place within the blind auction phase through the seller’s agreement to the highest bid or in the renegotiation phase through the buyer’s agreement to the buy-it-now option, then the respective sales fees that are incurred through the sale by auction and are as follows:

If in the end the auction was unsuccessful for you because the bids were too low and you refuse to sell, you will not be charged any fees. If after the auction you have invited to a renegotiation with your buy-now price and no prospective buyer has accepted the buy-now price, you will not incur any fees. We want to be successful for you and therefore do not charge you any fees if the sale is unsuccessful. That is our fair trade idea.

The successful sale by auction via BIDaCLASSICS is subject to a sales fee of 2.5% of the auction price. However, the fee is covered at a flat rate from the start of the portal until 31.12.2020 and is only due if an auction was successful. The following sales fees are currently applicable:

 

  • For sales prices up to € 24,999, the sales fee is € 149
  • For sales prices ranging from € 25,000 – 49,999, the sales fee is € 249
  • For sales prices ranging from € 50,000 – 74,999, the sales fee is € 349
  • For sales prices ranging from € 75,000 – 99,999, the sales fee is € 449
  • For sales prices ranging from € 100,000 – 149,999, the sales fee is € 749
  • For sales prices ranging from € 150,000 – 199,999, the sales fee is € 999
  • For sales prices ranging from € 200,000 – 249,999, the sales fee is € 1,249
  • For sales prices ranging from € 250,000 – 499,999, the sales fee is € 1,499
  • For sales prices above € 500,000, the capped sales fee is € 2,499

 

all prices plus the applicable VAT.

The BIDaCLASSICS fair trade concept

A binding purchase only takes place with the consent of the seller to the maximum bid submitted by a prospective buyer. As a seller, you only have price and acceptance security if you confirm the buyer’s binding bid via our portal and thus secure it in a legally binding manner. To officially reject the sale and to subsequently process it in order to avoid the sales fee not only violates our Fairtrade concept, but does not give you, the seller, any price and acceptance security when selling the vehicle. We also reserve the right to block traders and private customers from infringing the portal and to charge the fees.

Can I withdraw a bid?

No!

Your bid is binding and legally binding. Therefore, please read the entire vehicle description before bidding.

It is impossible to place a bid by mistake because it has to be confirmed twice.

As a dealer, we would like to use BIDaCLASSICS regularly for larger quantities, are there special conditions?

You are welcome to contact us for an individual offer.

There are training programs for distributors to help our employees with BIDaCLASSICS to familiarize?

BIDaCLASSICS has been optimally tailored to its users, but there are still decisive steps to import and creating advertisements and auctions of vehicles. Contact us, we are happy to offer an online workshop and / or extensive training calls and / or a visit to your house.

How does bidding work at an auction?

In a normal auction, the vehicles start at 0 euros. Bids are accepted in steps of 50 euros and specified by the system. Alternatively, you can enter your maximum amount in the bidding window (this is very useful if you cannot follow an auction to the end). You use it to create a bidding agent – this will bid for you in 50 euro steps up to your maximum amount.

How do I know if I am the highest bidder?

Each vehicle is so clearly presented that you can always see whether you are the highest bidder or have been outbid – you will also receive an email as soon as your status changes.

How does the purchase price submission work in the "blind auction"?

The point is that you inform the seller of your binding purchase price for the vehicle offered. Only you and the seller will see your bid. Third parties must now each offer their own binding purchase price, regardless of your offer. WARNING! You only have three bids per auction, so you should bid according to your budget and the value of the vehicle. “Entry offers” of €50  do not make sense with this auction mode.

At the end of a blind auction, this auction format often means a higher return for the seller and no lost auction for the bidder because of e.g. only €50 sub bid, since each bidder may only submit three bids per auction. We would be happy to give you more personal information about this “phenomenon”.

Why don't I see the highest bid in the "blind auction"?

At the „blind auction“, every buyer can submit his purchase price offer for the respective vehicle without being influenced by other buyers. He only sees whether he is the highest bidder or not. However, he does not see how far he is from the highest bid. The submitted bid is the binding bid and will be set by confirmation as a legally binding purchase price offer.

What does "remaining bids" mean at the "blind auction"?

The „blind auction“ is about purchase price offers. This can be increased a maximum of 2 times during an auction phase. There is no slow „sneaking up“ to a price like in a visible auction with unlimited bids for the bidder. The prospective buyer has only three attempts to bid according to his budget.

What does "auction successful" mean under the menu item "my purchases"?

You are the highest bidder in an auction that has ended. For this auction, the seller must now decide whether he would like to sell the vehicle at your highest bid. As soon as the seller has made a decision, you will be notified by email.

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