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How does maximum bid work?

Maximum bid obtains the best possible price for you. Autorola.lu automatically monitors your bids and ensures that you, as the highest bidder, get the car at a price equal to the second highest bid above the reserve price plus EUR 50. This may sound a bit cryptic, but can be easily illustrated using an example. A car is registered with a reserve price of EUR 75,000. This reserve price cannot be seen on your screen.A dealer bids EUR 73,000 for the car. In this case, the dealer's maximum bid is EUR 73,000, and the highest bid shown on the screen is EUR 73,000. The dealer will not get the car, as the reserve price has not been reached.You now bid EUR 78,000 for the car. Your maximum bid is EUR 78,000, but for the time being you are recorded as the highest bidder with a bid of EUR 75,000. Autorola.lu ensures that you do not bid more than the reserve price of EUR 75,000. If no other bids are made, you purchase the car for EUR 75,000.A third dealer bids EUR 77,000 for the car, which currently lists a highest bid of EUR 75,000. This dealer' maximum bid is EUR 77,000, but Autorola.lu immediately bids up EUR 50 on your behalf, giving you the highest bid of EUR 77,050. If no further bids are made, you get the car for EUR 77,050 and have saved EUR 950 in relation to your maximum bid. Naturally bids will never be entered for you beyond your maximum bid.

Related questions
»	How do I become an approved dealer?
»	Why buy at Autorola.lu?
»	Who sells cars at the auction?
»	What price do you charge to buy a car?
»	What should I do if there is residual debt/outstanding finance on the car?
»	Is it possible to view the car before I bid?
»	Why can't I see the reserve price?
»	When do I pay for the car?
»	Am I entitled to cancel a trade?
»	What happens if the car has not been described correctly?
»	Do I get the car if I have the highest bid?
»	Am I entitled to examine the car before I pay for it?
»	How do I bid?
»	Can I arrange for the car to be transported?
»	Can I buy a car once the auction has closed?
»	How does maximum bid work?
»	Why are the bids so low initially?
»	How can I manage the bids I have entered?
»	Is bidding free?
»	How secure is buying cars at the auction?
»	When can I bid on the cars?
»	How do I obtain the free email auction catalogue?
»	How can the auction save me time and resources?

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Weekdays 8.30 - 17.00 | Telephone: +32 (0)3 887 19 00
E-mail: serviceclientele@autorola.lu

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