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4. Negotiation

FAQ

4. Negotiation

Learn how to manage negotiations, get tips on effective communication and strategies to reach mutually beneficial agreements. Our guide will provide you with the tools and knowledge to navigate negotiations confidently and achieve your desired outcome.

4.1 How does the negotiation process work?

When an auction ends, the highest bid is sent to the seller for approval. Sellers then have 24 hours to send one of three responses via the OPENLANE Sell portal.

  • Accept the offer – This means the car is sold to the highest bidder.
  • Decline the offer – This means the car is not sold and the highest bidder misses out. The seller can then auction the car again.
  • Make a counteroffer – The seller proposes a new price to the buyer. This price must be higher than the initial winning bid.

If the seller chooses to make a counteroffer, a new 24-hour window begins. Within this 24-hour negotiation period, the buyer and seller must settle on a new price. If this doesn’t happen, the offer is automatically declined, and the sale is off the table.

When the buyer receives a counteroffer, they have four options:

  • Accept the offer – This means the buyer agrees to buy the car for the price given in the counteroffer.
  • Send a new counteroffer – The seller will then have the opportunity to accept or decline the offer, or make a new counteroffer of their own.
  • Stand by the initial offer – This lets the seller know the buyer is not willing to pay more than their highest bid. The seller can then accept or decline the offer.
  • Abandon the negotiation – The buyer chooses to walk away, the car is not sold, and the seller is free to auction it again.

Buyers and sellers can send one another counteroffers until the end of the 24-hour negotiation period. Each time a counteroffer is made, OPENLANE will notify the other party via email so they can react as quickly as possible.

4.2 Can I negotiate on every car?

No, not all our sellers chose to negotiate at the end of an auction. There is no way for you to know upfront whether you will be able to negotiate with a seller, so it’s still in your best interest to maximise your chance of winning during the initial auction.

A seller can only negotiate on Dynamic auctions until the vehicle’s requested sales price has been reached. For Buy Now auctions, a seller can only negotiate if the bid is below the set price.

4.3 What happens if the 24 hours are over without having an agreement?

As of the first counteroffer from the seller, a 24 hour clock will start to count down. If neither seller nor you have accepted the offer, the last offer is automatically declined and the sale is off the table. The seller can then choose to put the car in auction again.

4.4 Can I use my mobile phone to negotiate?

Yes. Our marketplace  is 100% mobile friendly, so you can negotiate from any computer or smartphone with an internet connection.

4.5 What happens if I stand on my offer?

This lets the other party know that you’re not willing to increase your price anymore. The other party will have to accept or decline that offer, there is no more room for counteroffers at this point.

4.6 What happens if I abandon the negotiation?

Abandoning the negotiation allows you to walk away from the sale. All offers are off the table, and the seller can choose to put the car in auction again.

4.7 How will I know if I got a counter offer?

On the OPENLANE marketplace, counteroffers will be shown in the “decision pending” section of My Bids. You can respond to the counteroffer from here.

You will receive an email notification as soon as there’s a counteroffer, so keep a sharp eye on your inbox! We may also notify you via phone as soon as the offer arrives from the seller.

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