CrossblockMotor Auction Co.
Run list

The rules, written down

Nothing about a sale should be a surprise

Increments, reserves, proxies and the premium. All four are published in advance because a bidder who does not understand the arithmetic is not really bidding.

Terms

Reserve, or no reserve

With a reserve

The consignor set a floor. If the bidding stops below it, the lot does not sell and is recorded as a no-sale with its high bid published.

Bidders can see that a lot is reserved. Some read that as a signal and bid harder; others skip reserved lots entirely, because a no-sale wastes their afternoon too.

Without a reserve

It sells on the day to the highest bid, whatever that bid is. There is no floor beneath it and no protection for the consignor.

No-reserve lots draw more bidders, because everyone in the room knows the car is going to sell. That is the trade the consignor is making.

Proxy bidding

Give a maximum, not a number you intend to pay

A proxy bid is an instruction, not an offer. We bid on your behalf in the published increments and stop the moment you are winning — so you usually pay less than your maximum, and your maximum is never shown to the room.

Step it through

StepWhoBid

Bid increments

Price bandIncrement
$0 – $5,000$100
$5,000 – $20,000$250
$20,000 – $50,000$500
$50,000 – $100,000$1,000
$100,000 and above$2,500

The auctioneer may take a smaller increment to close a lot. Never a larger one than published, and never a bid that does not exist.

The premium

Your budget is not your bid

8% of hammer · $500 minimum · $3,500 cap
Hammer
Buyer's premium
Documentation
$149
Effective rate
You pay

Why a cap changes the maths

Because the premium is capped at $3,500, the percentage you actually pay falls as the price rises. A $4,000 car carries the $500minimum — twelve and a half per cent. A $200,000 car carries the cap, which is one and three-quarter per cent.

What is not in that number

  • Transport — always more than people expect for a vehicle that does not run.
  • Storage after the Monday following the sale, at $18 a day.
  • Registration, tax and title work in your own state.
  • Anything the condition report told you the car needs.

Before and after

Registering, and what happens if something is wrong

Register

Identity check and a bidding limit, closing at 6 p.m. the evening before the sale. On this demonstration the form confirms and stores nothing.

Bid

In the room, or as a proxy. Announcements are read aloud before bidding opens on every lot, including the ones with none.

Arbitrate

Green: material misdescription. Amber: the announcements. Red: nothing. Forty-eight hours from collection or seven days from the sale, whichever comes first.

Register to bid The arbitration rules

Questions

The ones we get most

Do I need to register before I can bid?

Yes. Registration closes at 6:00 p.m. CT the day before the sale so we can check identity and set a bidding limit.

On this demonstration site the registration form shows a confirmation and stores nothing.

What is a proxy bid?

You give us the most you are willing to pay. The system bids on your behalf in the published increments, and stops as soon as it is winning — so you often pay less than your maximum.

A proxy bid never reveals your maximum to the room. It only ever shows the amount needed to lead.

What are the bid increments?

They step with the price: $100 below $5,000, $250 to $20,000, $500 to $50,000, $1,000 to $100,000 and $2,500 above that.

The auctioneer may take a smaller increment to close a lot, but never a larger one than published.

What does "reserve not met" mean?

The consignor set a minimum price and the bidding did not reach it, so the lot did not sell. It is recorded as a no-sale and the high bid is published alongside it.

A no-sale is a normal outcome. The consignor can re-enter the vehicle in a later sale, usually at a lower reserve.

How is the buyer's premium calculated?

Eight per cent of the hammer price, with a $500 minimum and a $3,500 cap. It is added to the hammer price on your invoice, along with a $149 documentation fee.

Every figure on this site is illustrative sample data.

When do I have to pay?

Within two business days of the hammer falling. A gate pass is issued once funds have cleared, and nothing leaves the yard without one.

All questions

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