The market of motorcycle auction has been growing a lot in recent years. According to Official Auctioneer Association of Brazil, there was an increase of more than 25% in demand for auctions in the country.
Every day the number of followers and consumers of the market increases motorcycle auctions, whether for personal use or for resale.
Despite the great opportunities that the auction market offers, and despite the growing interest of many people in this type of business, many people still have many doubts about the auction process.
And due to a lack of knowledge, they don't feel confident about participating in an auction, despite being very interested. And maybe that's your case.
In this article we will show you step by step the moment you bid on your motorcycle at auction, until it was time to take her home.
The dynamics of the auction of motorcycles
THE motorcycle auction is a type of operation in which vehicles are put up for sale and displayed to the public at the initial bid price. Whoever offers the highest bid takes the motorcycle home.
To make it clearer, imagine that there is a motorcycle advertised at auction, and the initial bid is R$ 1,000 and the minimum bid is R$ 500.
And one person offers R$ 1000, then another person also interested in the bike offers R$ 1,500 and as you are also interested in the bike, you offer R$ 2,000, if no one covers your offer, the bike is yours.
But from the moment the auctioneer hits the hammer and says sold, until the time you take the bike home, there is a process that you need to be aware of so that you can be successful in your purchase.
The importance of the notice at the auction
Many inexperienced motorcycle auction participants are fooled by the price at which the vehicle is advertised.
Often a value of 30, 40, 50 or even 60% below the vehicle's list value is the main factor that attracts buyers.
And this is where many people have a headache and have a terrible experience with auctions. Because the value of the motorcycle cannot be the only criterion to be analyzed at the time of purchase.
You need to find out about the other fees that are charged. And where can you find out about these fees? In the auction notice. You need to read this document carefully and very carefully, so that you don't miss anything.
Fees to pay in auction motorcycles
The auction notice will inform you about the auction rules, costs, condition of the vehicle, documentation status and what needs to be regularized and everything else.
You shouldn't look for this information after you bid, you should look for this information before you bid. You need to know exactly where you stand.
A standard process for most motorcycle auctions includes the following fees:
- Auctioneer's commission fee (the amount of this fee varies from auction to auction; Sato auctions for example, it usually charges a fee of 5%);
- Administration fee;
- And other possible fees (which depend on each auction)