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Reasons Why the Prices of Used Cars are Cheaper in Auction Halls

Nowadays, when people want to buy used cars at affordable prices, they would set their eyes on auction halls. The average vehicle prices in auction halls tend to be below market price. 

That is the main reason why there is an increasing number of used car enthusiasts who participate in auctions.  According to the type of vehicle and the auction process itself, the difference between the prices of cars sold at auction halls and showrooms can reach millions to tens of millions rupiah. 

Why is the price of used cars in auction halls much cheaper than the price at car dealerships? One of the reasons is that used cars sold at auction halls are offered as is, without any repairs to the vehicles’ engine or body. Cars sold in dealerships should be in prime condition, depending on the dealerships themselves. 

The condition of cars sold in auction halls varies, ranging from broken to flawless, which is why the prices can be so cheap. At dealerships, any damage to the cars would have been fixed in advance to ensure that they can be sold at a high price. 

In IBID’s auction hall, used cars are offered at a price that aligns with their current condition. However, in IBID’s auction hall, there is a grade for each car condition. Cars offered on the auction have been categorized into grades. The better the condition of the cars, the higher the grades. 

IBID’s auction hall also facilitates its consumers by offering online auctions.  As a member of Astra Group, IBID is keeping up with the development of the digital trend by establishing a contemporary auction style in the form of Live Auction and Timed Auction services.

So what are the differences between live auction and timed auction? Here are some of them:

1. Live auction is the virtual version of onsite auction. Therefore, its schedule follows the onsite auctions that are regularly held each week at each IBID branch in the country. If you cannot attend the onsite auction, you can still participate using the live auction feature, both via IBID’s application and website in a real-time manner.

2. In contrast with live auction that can be accessed through both website and application, timed auction can only be accessed through IBID’s application. The schedules of timed auction and live auction are also different. In general, timed auction has a longer period, ranging from two days to a week. As such, you have more leeway when it comes to participating in timed auction.

Essentially, timed auction and live auction are not that different. The difference lies in the NPL (Auction Participant No.) used, as the participants have to use timed auction NPL. Meanwhile, the execution period of the timed auction is much longer. You are free to decide which type of auction you want to participate in. If you prefer a more challenging competition, you can join a live auction. However, if you want a more relaxed competition, then you might want to join a timed auction instead.

With the live auction and timed auction methods, you can participate in an auction from anywhere without having to come to the nearest branch of IBID. You can also check the condition of an auctioned object by reading the details contained within each lot. 

You don’t need to worry about vehicle condition as every car auctioned at IBID has been examined by Astra Car Valuation (ACV), which is a scientific vehicle inspection system conducted by experts. Therefore, the results of the examination are more accurate. In addition, a report of the results of vehicle inspection can be seen on the vehicle detail page at IBID’s website and application. No need to wait around, join a timed auction in IBID now! Visit www.ibid.astra.co.id.

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