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Preliminary Bidding Feature and Details on How Preliminary Bidding works:
A Majority of Insurance Auctions, Salvage Auctions, and Auction Pool companies can sell only to a limited number of licensed and registered license Salvage Dismantlers, and Dealers. We possess all proper licenses and registrations, giving us the ability to buy any vehicle for you anywhere in the country. Even where some states require special bid cards, where even dealers are not permitted to bid Elite Auto Auctions can bid for you!
The actual live auction for this vehicle is not open to public, so unfortunately there is no way for you to participate in it although you can participate in Preliminary Bidding. We will collect your bids and then present them during the live auction.
Our model is COMPLETELY TRANSPARENT. You should enter your ABSOLUTE MAXIMUM bid. You are submitting a PROXY bid. When we bid with the insurance company or at the live auction, we will try to acquire the vehicle as inexpensive as possible, and will only bid incrementally against other buyers up to your maximum amount. Sometimes, even though we are the highest bidder, insurance auctions and companies have a RESERVE price, which means they have the right to reject the bid even though you are the highest offer. They have the option of re- auctioning the vehicle or we have the option of increasing your bid.
Your total purchase price will consist, in part, of the actual sale price at the auction, as well as all applicable auction fees and Auto Auction Brokers Inc. or other broker service fees. Please use our "Fee Calculator" to obtain a cost estimate. Your bid represents your total liability before addition of fees as above. Because of our special relationships in the industry, there is no warranty or guarantee that your final bid will be equal to the winning auction amount. We often are required to pay administrative fees, broker fees, bulk sales fees, and agent costs in order to obtain the best prices. We do insure, however, that you will never pay more than your approved maximum bid before the addition of auction and service fees.
Most Insurance Auctions have the preliminary bidding option available to its buyers. Our system will automatically poll them and update the current auction price on our site. However, during the live auction the bidding usually goes much higher. Please do not rely heavily on the current auction price and place your ABSOLUTE MAXIMUM bid, because once the auction is over, we will not be able to increase your bid.
Every vehicle with a bidding option allows you to request live on the PHONE BIDDING with one of our registered affiliate buyers nationwide through our brokers who represent the vehicle live at auctions nationwide and or online through their broker accounts. If you submit a live on the phone request you will receive and email with approximate time of the sale and one of our support representatives will put you in touch with the affiliate buyer from our broker for an additional fee of $150 dollars , 5 minutes before the bidding starts. During your item at the live sale the representative will tell you the current bid amounts and you will tell them to bid or stop. Please keep in mind you need to answer quickly go or stop because auctioneers at live auctions lay down the hammer and sometimes take favoritism over buyers they see weekly at the sale rather than someone online clicking a button who is taking their time. Please note the sales are very quick and there are only 3 seconds between bids.
Vehicles listed with the "BUY NOW" option can be purchased at the indicated price instantly with the click of a button for "FUNDED" customers only. As soon as you receive an email with the confirmation of the purchase, please sign all documents and send back with proof of payment to our billing department. Every auction vehicle has an auction fee. Prior to bidding please check the auction calendar. We have the largest selection of buy now vehicles in the world available to the public. Take a quick look and contact us today, we strongly urge using instavin.com to check vehicle history reports prior buying or placing any offers.
This guide is intended to help first time bidders get a feel for our site. It is a step by step guide required to successfully purchase an auction vehicle through our site. The process itself is very simple... let's begin!
By registering on our website you are allowed to submit offers (bids) on any vehicle, motorcycle or specialty unit that we have to offer. Non-registered users are only able to browse the website but cannot submit any offers.
Now that you are a registered Elite Auto Auctions user, you can browse and bid on any of our vehicles in the database. Once you have found the vehicle you like, please be sure to view the pictures to see all the damage/problems with the car; details are minimal because this is the standard information provided by the auction. Also, please note that all auctions are set to "go live" on a certain day.
IMPORTANT NOTICE: Most Bids must be submitted by 12:00AM EST the night before an auction begins in order for your bid to be processed properly. The count-down auction timer associated with your selected vehicle denotes the proper time left to submit a valid bid. WE HAVE EXTENDED AUCTION TIME TO MIDNIGHT TO ALLOW TIME FOR OUR EUROPEAN, AFRICAN AND MIDDLE EASTERN CUSTOMERS.
We do not require credit cards to bid on any of our vehicles. However, remember that bidding on a car enters you into an agreement with Elite Auto Auctions for us to pursue the purchase of your vehicle. If our affiliated dealers win this auction, full payment will be due by the end of the 2nd business day from the invoice being posted to your account. To read the entire insurance auction item purchase Terms and Conditions, please click here.
Your offer, once accepted, constitutes a binding contract. Place an offer only if you're serious about buying the item. By having the highest eligible offer that's accepted, you automatically enter into a legally binding contract to purchase the item. Please contact us should you have any questions before placing any offer.
At times, even though you might be the Highest Offer or Bid at an auction the Insurance Company can still reject your offer. Most of the vehicles offered by the Insurance Companies have a minimum "value". These cars will not be released for less than that value, however, that value is not (and will never be) disclosed publicly.
Please remember to bid with these facts in mind (always look to blue book values for guidance, research your vehicle thoroughly!). In order for us to have the highest probability of acquiring your vehicle, make sure your offer is 'realistic'. For example, having a winning bid of $1,000 on a 2011 Lamborghini Gallardo, even with heavy damage, does not constitute a realistic offer (the vehicle has a much higher "value" to the Insurance Company).
By depositing funds to your account, we can securely submit your offer to the insurance company that is handling your vehicle. Without a deposit, we will NOT pursue the acquisition of your vehicle. Please remember that all deposits must be submitted before 8:00AM EST the same day of the bidding period ending. For west coast vehicles deposits must be submitted before 2:00 PM EST. Currently, we are accepting two methods of payment: Credit Card and Wire Transfer. Credit Card is the quickest way to initially fund your account. Once we have your cleared payment, we will update your Elite Auto Auctions Account and you can go to the my account section to monitor such transactions. Click here for instructions on how to submit funds into your account.
If you deposit funds into your account and your offer is rejected by the Insurance Company, the funds remain in your account until either a refund is requested or an item is purchased on your behalf.
Once you are the highest bidder at the end of an offer period and your account is funded our system will submit your offer as a preliminary bid to the insurance auction that your Car is being sold in over night. You will be notified the following morning via your, my offers section if your offer your offer was rejected. If it is rejected one our associates Will contact you via telephone to offer you the chance to submit a higher offer one last time. Your offer will be accepted verbally, however you must email our office a revised offer for the Item number for Elite Auto Auctions to submit once again.
If one of our Insurance Vehicle Auction Consultants does not contact you, please call our office or email us via thecontact us section of the site We can not submit offers after 9:00 am eastern time so it important that we discuss your outbid offer before 9:00 am. Even the day before the sale works.
Your funds remain in your account for any future offers you wish to submit. There is no penalty for submitting offers on Elite Auto Auctions. If at any time you wish to remove your funds from Your Elite Auto Auctions account, you must request a refund via our website only. The request form is located in the About us section of the website. Refunds are processed immediately but can take up to 10 days to reflect on your online credit card statement.
Once a vehicle has been purchased for you, an invoice will be posted to your account. You must sign the bill of sale and email it back to: email@example.com along with a copy of your drivers license or passport. When we receive your signed Bill of Sale the process begins. You are then required to pay for your vehicle in FULL within 24 hours via WIRE TRANSFER only; Credit Cards will not be accepted for final payments. You are then required to sign and fax back the updated Bill of Sale to our office as soon as possible. We will then email you a new Bill of Sale showing that your vehicle is paid in full.
Now that the Vehicle is paid in full and all necessary paper work has been completed, it is time to mail you your Title of Ownership for your purchased vehicle. Elite Auto Auctions will send your title via UPS Ground Service or FED EX saver delivery, we will not overnight titles for vehicles unless you provide us with your UPS or FED EX account number. The whole process can take any where between 7 & 10 business days from the time we receive your final signed Bill of Sale.
PLEASE NOTE: There is a $85.00-$125.00 title paper work processing fee that must be paid to Elite Auto Auctions prior to us sending you your title. This fee applies to both motorcycles, boats, industrial equipment and automobiles. We are NOT like other sites our processing fees are realistic.
Elite Auto Auctions is not a shipper and does not transport vehicles. However, we will help you arrange transport to your desired location or country. We have a vast network of transporters through out the United States that can deliver any vehicle door to door or to any major port in the country for export. If you require a freight forwarder to handle the shipment of your vehicle we can recommend one to assist you. We recommend you visit www.EZhaul.co for an instant quote.
The average cost of transporting a vehicle within the United States is $50.00 for the initial hook-up fee and approximately $0.85 cents per mile; this can vary from City to City however this will give you an estimate of what transporting will cost for your vehicle.
Yes! Elite Auto Auctions reserves the right to charge $50.00 per day for late fees, storage and service charges associated with late payment. You must email a wire transfer confirmation which you can get from your bank to our accounting department at firstname.lastname@example.org with a cover sheet referencing your full name, telephone number & invoice number.
If you decide not to pay the full amount owed on your invoice, your vehicle will be "re-listed" and your security deposit will be forfeited. A security deposit is required to cover the cost of re-listing the car for sale. This re-list fee is billed to Elite Auto Auctions by the insurance company and we in turn bill the Elite Auto Auctions customer.