Here’s How to Sell an Item at an Auction

It’s Easy to Sell an Item at an Auction House, Here’s How

Buying and selling an item, such as used cars, motorcycles, and gadgets, at an auction have become increasingly popular among the general public. With a competitive selling price, an auction house also offers transactions deemed quite profitable, especially for those who want to sell an item.

You can auction off your item at IBID - Balai Lelang Serasi (IBID).The program is called “Titip Lelang” (Consignment Auction). Until now, IBID auction items are from corporations, financing companies, private companies, and even the government.

Today, however, an individual seller can consign their item to IBID. And the process is simple.

See also: Weighing the Pros and Cons of Buying a Used Car at an Auction

How to Sell a Car at an IBID Auction

Visit the IBID Website or Open the App

First, visit the IBID official website at ibid.astra.co.id or download the IBID app on Play Store, IOS App Store, and Huawei AppGallery. Next, choose the TITIP LELANG tab and select DAFTAR SEBAGAI INDIVIDU (register as an individual) if the car you want to sell is personally owned.

Fill out the Consignment Auction Form

Next, complete your detail such as telephone number, bank name and account, and a photograph of your identity card (KTP). Afterward, fill out the form for the car you want to auction off.

The Car Is Inspected by Astra Car Valuation (ACV) Officers

You can visit an IBID branch near you based on the inspection schedule you have selected. Astra Car Valuation (ACV) officers will inspect your car, including its exterior, interior, frame, and engine condition.

See also: Flash Auction: A Must-Try Car Auction Method

The inspection results will determine the grade of your car, whether the condition is excellent, good, fairly good, poor, or very poor.

Get Price Recommendations Based on the Market Auction Price (MAP)

After the inspection, the ACV officers will provide detailed results and recommend prices that you can select.

These price recommendations are based on the prices listed in the Market Price Auction (MAP) database, which stores data on thousands of used cars that have been sold at IBID auctions.

Participate in the Next IBID Auction

If an agreement is reached, your car will be immediately auctioned off on the next available schedule, either via Live Auction, Timed Auction, or Flash Auction.

As an auction house, IBID organizes many auctions every week. Thus, there is a bigger chance that your car will be immediately sold.

See also: Ways to Instantly Win at Car Auctions

You don’t need to worry when partaking in a consignment auction at IBID. A subsidiary of PT Serasi AutoRaya (SERA) under Astra Group, IBID is a highly credible and reputable auction house in Indonesia. With IBID, the entire auction process is made easier, such as when the participants place a bid or follow the procedures after an auction sale.

In addition to offline auctions, IBID, established in 2007, organizes online auctions for an easier process for the participants. To participate, you can enter a Live Auction on the IBID app available on Play Store and App Store.

One of the top features of the IBID Live Auction is the Auto Bid, where you can place a more orderly and calculated bid.

With this feature, you refrain from overbidding as you have previously set the maximum bidding price and each bidding price. All you need to do is to monitor the auction process on your phone screen.

See also: Avoid Scams with These Online Auction Safety Tips

And it’s very simple to use this feature. Just activate Auto BID on the app and enter the highest amount for each bid and the maximum amount you’re willing to pay for the auctioned car.

Therefore, you can bid from anywhere without having to be present at the auction venue. You can even do other activities without leaving the auction process.