Maximize Benefits of Auction through Market Auction Price

Owning a private vehicle gets easier with auction. Even though there are still many people unfamiliar with auction, this activity can be an option. Many platforms are available to try, from social media to direct participation at the auction house.

Furthermore, in current technological era, people can easily join auction without having to visit the auction house. The method is by participating through live auction, which enables participants to compete with those who go to the auction location.

This feature is available on the website and the app of IBID Balai Lelang Serasi. This feature can help you participate in auctions simultaneously in four cities online. "Now, bidding does not require the person to go to the location to raise their hand. Customers now can join auctions from anywhere in real time," IBID President Director Daddy Doxa Manurung said (Detik.com, July 15, 2019).

Many benefits can be gained from participating in a used car auction, especially in terms of price. Generally, an auction provides more choices than a used car showroom. Moreover, auction participants can find various types of used cars in various conditions and from various years with prices that are relatively cheaper.

The “competition” to be the highest bidder also provides its own sensation, especially if you win the auction of the car you want.

The process to get the used car you want is getting easier and more practical with various features, such as filter, sort, and compare. The cars’ condition, specifications, and completeness of documents are recorded clearly, which allows you to survey the car you want without having to visit the auction house.

It’s your first time joining an auction, so you are confused about setting the maximum bid price? You can make use of Market Auction Price (MAP), which can also be found on IBID’s website and app. MAP provides the statistics of auctioned car’s market price in various graph types with details according to the user’s needs.

This feature gives an overview to the auction participant about the market price of the car they want. “Inspection of the car’s condition also uses Astra Car Valuation system, which is one of the systems with the best parameters currently available,” Kompas.com wrote (July 16, 2019).

MAP is beneficial for two parties. The first party is you who plans to buy a car. You will know the market price of the car you want to buy in details according to the condition and location within a certain period, so you can know the price trend. MAP helps you to make the decision to buy a dream car comfortably according to your budget. 

MAP also helps you who wants to sell your car through auction. Selling car also needs to consider the condition, the selling price, and the right timing. A car’s selling price in an auction is closer to market price because every car is offered to the public without exception. MAP provides analysis of a car’s selling price according to the actual condition, location, and market trend.

In IBID’s MAP, there is a database of more than 2,000 auctioned cars from all of the cities in Indonesia where IBID holds auctions. The database is updated every month to enrich MAP’s information. The result of a search for a car’s specifications is presented in a graph that can be adjusted to certain variables. You can even create a custom graph.

Established in 2007, IBID is a subsidiary of PT Serasi Auto Raya, which is part of Astra Group. Anyone — both companies and individuals — can join auctions, either to buy in bulk or in individual units, offline or online.

IBID routinely holds auctions every week in more than 10 large cities, and currently, it has held auctions in more than 30 cities in Indonesia. As of the end of 2016, around 27,000 four-wheeled vehicles had been sold through more than 500 auctions every year.