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More and more people now choose auctions to get secondhand goods. Why? Because auctions give them better deals and fairer, more transparent pricing.
People are now increasingly attracted to auctions after finding out that auctions are not intended only for those buying in bulk; individuals can buy only a single item at an auction as they can at a retailer. On top of that, people are getting more aware of the various advantages auctions have to offer.
The first is that when buying a used car at an auction, you will likely get a price below the average market value. Surprisingly, if you run the numbers, the price you get when purchasing a car from an auction can be tens of millions of rupiahs cheaper than a car sold at a dealership.
The significant difference is thanks to the fact that used cars sold at auction do not go through an auto reconditioning process; what you see is what you get. The cars are simply not retouched.
As the icing on the cake, car auctions are now much easier to join since they take place online, so you can bid on the car you want from virtually everywhere.
One of the most reputable auction houses you can choose from is Balai Lelang Serasi (IBID), which has existed since 2007. As an Astra Group company, IBID constantly strives for innovation and improvement, from service delivery and auction to items sold at its auctions.
IBID has made a name for itself right from the start as an auction house selling used vehicles, from cars to motorcycles, but IBID actually has more than that.
Auctions have become one of the destinations for people looking to buy a used vehicle, but they also expect to find other kinds of items they can bid on. To cater to these needs, the auction house also auctions off heavy equipment vehicles you will usually find in mines, construction sites, plantations, etc.
The list goes on: IBID also sells gadgets and electronics online at IBID’s Timed Auctions, which run for several days exclusively on the IBID app.
Bear in mind, though, that you need to implement certain techniques and strategies to get a good deal on items put up for auction.
For bidding on motorcycles, gadgets, and heavy machinery offered by IBID, you do not have to visit one of IBID’s branch offices. With online Live Auctions, you can bid from the app on your phone.
The auction process for used motorcycles and heavy machinery is similar to that for used cars IBID has routinely auctioned off.
By the end of 2016, the Astra Group’s company has sold more than 27,000 four-wheeled vehicles in its auctions, and every year it successfully runs more than 500 auction events. IBID hosts weekly auctions at its ten branch offices across Indonesia. So far, over 30 cities in Indonesia have become where IBID’s auctions are held.
IBID runs three kinds of auctions: Live Auctions, Timed Auctions, and Flash Auctions.
A Live Auction is a real-time auction where each lot is auctioned off live one at a time on a given auction schedule. When the lot is being put up for auction, participants can put in their highest bid, and the auction ends when no higher bid is placed for it. When that happens, the highest bidder wins the auction. The auction then continues for subsequent items. It is different from Timed Auction and Flash Auction.
At Timed and Flash Auctions, all lots are put up all together on a single schedule. Here they differ: Flash Auction takes place for only an hour, while Timed Auction can last for hours, even days.
For example, at this week’s Timed Auction, ten used cars are scheduled for an auction from 12:00 p.m. to 5:00 p.m. Western Indonesian Time (WIB). All the cars will be displayed together for that auction. The highest bidders, who will bring home the used cars, will be announced when the auction concludes. Whereas, at a Flash Auction, five cars may be auctioned at once, but only from 2:00 p.m. to 3:00 p.m. WIB.
There are two types of auction participant numbers, called NPL (nomor peserta lelang/Auction Participant Numbers), provided for the participants: NPL Live (for a Live Auction) and NPL Timed (for Timed and Flash Auctions).
Flash Auctions have an advantage over the other kinds of auctions. They have a collection of fresh-from-the-oven used cars because cars recently inspected by the Astra Car Valuation (ACV) experts will typically be auctioned off here first. For sellers or consignors, this type of auction helps sell their car faster, while for bidders, it helps them find a fresh collection of used cars to bid on. As for Timed Auctions, they are scheduled like Live Auctions.
Where Flash Auction wins are the live stream and the live chat features it provides for the participants. Each bidder with an NPL can use the live chat feature to ask the vehicle inspection team up to 10 questions to get more details about the condition of the displayed used car. Thanks to the live stream, the vehicle inspection team can show the exact part of the used car by pointing the camera at it in response to a participant’s question.
Flash Auctions are designed to present convenience to an online auction event. From the comfort of their home, participants can see cars auctioned via the live stream in detail, eliminating the concern over flaws found only after a car reaches the buyer’s hands because its condition has been documented thoroughly beforehand.