The Differences between Timed Auction and Flash Auction at IBID

More and more people are becoming familiar with the auction business. Lots of people participate in auctions to snatch low-priced items in reasonable conditions. In the current pandemic era, plenty of auction halls even hold online auctions. 

Thus, many options and ways to participate in an auction are available. IBID auction hall also facilitates its consumers by offering online auctions. In addition, now you can consign your old car at IBID and get it auctioned. This feature is called Flash Action, which makes it possible for your car to be sold quickly.

So what are the differences between this feature and other auction methods at IBID like Timed Auction? 

Flash Auction is a new online auction method at IBID that is held quickly and not bound to any auction schedule. Auction participants can see the auctioned units via Live Streaming and propose an interactive question via Live Chat. 

Flash Auction is a solution for sellers who want their used cars to sell quickly. From the buyer’s side, this method can assist them in finding the latest used cars being auctioned at IBID. Thus, you do not need to wait for a regular auction schedule anymore.

On the other hand, Timed Auction is the newest version of the  online auction organized by IBID. In contrast with flash 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. Meanwhile, the flash auction occurs quickly just as its name implies, meaning that you can obtain a new car or sell your old car quickly. 

Timed auction and flash auction are not that different. The type of NPL used is also the same, namely the 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 that will end on the same day, you can join a flash auction. However, if you want a more relaxed competition, then you might want to join a timed auction instead.

With the flash 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. Join a vehicle auction at IBID right now! Visit www.ibid.astra.co.id