What You Need to Know Before Bidding at IBID

Auction houses are a popular option these days for finding used cars, motorcycles, lifestyle items, heavy equipment, and scrap at better prices.

If you’re thinking about a used car or gadget, IBID auctions are the right choice. For a smooth auction experience, there are some important things to consider.

Your Guide to Bidding at IBID

1. Create an Account

First, you’ll need an IBID account. It’s easy to do online, either on the website or the app. Choose the account type that suits you, whether personal or business.

2. Research the Item

Before you bid, make sure you’ve looked into the item you’re interested in. IBID offers detailed inspection reports for every vehicle, so you know exactly what you’re getting.

See also: Avoid Consequences: Pay Immediately After Winning an Auction

Also, pay attention to the available photos and videos. IBID provides photos and, for some items, even 360-degree videos for a better view of the item’s condition.

3. Attend an Open House

If you’d like to see the items in person, you can attend an open house held by IBID. This is your chance to check out the physical condition of the vehicles you’re considering.

Take this opportunity to inspect the items firsthand. You can even bring your own mechanic for a more thorough check.

Don’t forget to record the chassis and engine numbers for further verification.

4. Understand the Auction Process:

IBID offers various types of auctions, such as Live Auction, Timed Auction, and Flash Auction. Here’s a quick look at each one.

Live Auction: Auctions are conducted live with real-time bidding via the IBID platform. The bidding time is limited.

Timed Auction: Bidding is open for a set period. You can bid at any time during that period.

Flash Auction: This is similar to a Live Auction but with a shorter bidding duration.

Make sure you understand how each auction type works before you start bidding. Each one has its own procedure.

See also: Why Your Company Needs an IBID Auction Account

5. Use Additional Features:

IBID offers a range of helpful features to streamline your auction experience, including:

• Bidding Simulation: This lets you practice bidding before the real thing.

• Delivery: IBID provides delivery services for used vehicles purchased.

• Installments: You can buy some used cars at IBID on installment plan.

6. Buy Auction Participant Number (NPL)

Before you can bid, you need to buy an Auction Participant Number (NPL), which acts as your “access pass.” NPL prices vary based on the type of item being auctioned.

Choose the right NPL for the type you want to join. These include the NPL Live for Live and Flash Auctions, and the NPL Timed for Timed Auctions.

Pay for your NPL using the available payment methods (bank transfer, credit card, etc.). Upon successful payment, your NPL is activated, and you can start bidding.

7. Bidding

During the auction, go to the page of the item you want and enter your bid. Make sure your bid is higher than the starting price or the previous bid.

For Timed Auctions, you can use the Auto Bid to automatically increase your bid up to a limit you set earlier.

See also: Things to Do Before Consigning Your Office Equipment

8. Be Financially Prepared

Ensure you have prepared sufficient funds to pay if you win. Don’t miss the payment deadline, or you’ll be considered in default.

9. Check Your Internet

A stable internet connection is crucial, especially for Live and Flash Auctions.

By following this guide and preparing yourself well, you can participate in auctions with more confidence and have a better chance of getting the desired item at IBID.

IBID is a subsidiary of PT Serasi Autoraya (SERA), dealing in auctions of vehicles, heavy machinery, gadgets, and lifestyle products. In addition to being professional and reliable, one of its benefits is the easy process.