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Purchasing goods, especially automotive products, through an auction has become a new social trend. The selling price offered to the participants and won by the highest bidder in the auction is considered fair.
The reason is that the products sold through this process are as they are, allowing the participants to understand better the goods’ condition and the suitability of the offered price.
However, this trend has shifted. Now, it’s not only about purchasing goods in an auction; consumers can also consign them for sale.
This method is commonly referred to as consignment at auction houses. The goods consigned for sale vary from automotive and lifestyle products to many other things.
See also: Two Types of Ibid Consignment and Their Benefits
Consigning goods for sale at auction houses has at least three benefits. First, people consigning their goods can free the hassle of offering them, which can be time-consuming and ineffective.
Second, the systems and mechanisms applied by auction houses allow consigned items to sell more quickly.
This is mostly because such houses regularly share information about auction schedules and types of items available for bidding through online and offline methods.
Third, the prices attained by those consigning their goods for sale are relatively high. This is made possible by the auction house’s fair bidding process, which considers the goods’ condition and the starting prices proposed to auction participants.
Only the participant with the highest bid is entitled to the auctioned item. Lastly, the requirements and procedures for consigning at auction houses have become easier.
See also: Unusual Products You Can Find at Auctions
A trusted auction house offering consignment services is PT Balai Lelang Serasi. IBID provides two categories of consignment services: regular auctions and exclusive auctions.
Exclusive consignment, known as Flash Auction, is currently limited to automobiles. This service allows for the swift sale of your car, even from the comfort of your home. The auction process is conducted online for a limited time through live streaming on the IBID app.
The entire process is online without needing Cash on Delivery (COD). The consignment fee payable to IBID is a reasonable 2.5 percent.
See also: Some Auction Terms You Need to Know
If you choose the regular consignment service, it involves bringing the cars or goods to be sold to the nearest IBID branch. The sales are then conducted in a direct and transparent mechanism.