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Can I set my own reserve price?

Yes, you can set your own reserve price at whatever price you want, but remember that you are selling wholesale and therefore need to set the reserve price in relation to the wholesale market, not the retail market.

Our experience shows the following:
  1. The lower the reserve price, the higher the level of dealer interest - this is due to bidders misconception that their chances of purchasing the vehicle are escalated. In reality their chances of purchasing at a lower price decline. Bidding activity increases due to like minded dealers also wishing to purchase the vehicle at a lower price, this has the reverse effect, driving the sale price up.
  2. As a rule, you get the best wholesale price the first time the vehicle is registered at auction - this is because many dealers will not dedicate time bidding on the same vehicle repeatedly. If they feel the reserve price was unrealistic in the first place, tendencies are to ignore the vehicle in subsequent auctions.
From the moment you register it is advisable to calculate the exact wholesale price you are willing to sell at.

Remember! is an auction, so you can easily receive a wholesale price significantly above your reserve price.


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