Auction Format
All auctions are Sealed Bid where the bids remain
sealed from view from ALL until the auction is closed by the owner or has
run its course of up to 30 days.
Owner Reserve Price & Bidding
All listed vehicles must have an owners acceptable sale price
in the form of a Reserve Price
(Certain Dealer Auctions may denote that the
Reserve represents a Monthly Payment, or Down Payment and not the
traditional Sale Price.)
Listing & General Notice
UsedCarAUCTION Company is not liable or responsible for any images
or descriptions displayed on this site; nor for
condition of vehicles, or for the transactions that may or may not result
through this website.
Trade-in Auctions - These are binding by owner option when purchasing a
replacement vehicle from the winning dealer.
Certified Auctions -
These are binding auctions with penalties for improper default as
described below.
Auction Early Closings, Withdrawals & Bid Cancellations
Owners may withdraw an auction vehicle at anytime prior to listed closing
time. Bids are erased from the database and bidder is notified.
Owners may close an auction early with the winner being selected from the
already collected bids.
Bids may canceled prior to auction close.
Default
Default will be declared in instances where the injured party has logged a
complaint within 72 hours of the auctions close. All awards and decisions
are at the sole discretion of The UsedCarAUCTION Company and fines will
not exceed $100 with 75% going to the injured party.
Seller default consist of purposeful misrepresentation or
sold more than 72 hours before auction close without withdrawing. In the
case of dealer members this window is extended to 6 days to accommodate
the special circumstances associated with a retail outlet with automated
inventory display by a third-party.
Buyer default consist of not meeting with the seller to
complete the deal with the exception of having won and completed the deal
in another auction within 72 hours prior to the defaulted auctions close.
