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1. Auction process

FAQ

1. Auction process

Get guidance from registration to bidding and finalizing your purchase. We provide clear instructions and support throughout our auction process. Explore this section for all the details on how to participate, what to expect, and how to maximize your auction experience with us. 

1.1 Who collects the vehicle and how quickly?

We handle all the logistics for pick-up and delivery for selected countries: Belgium, France, Germany, Italy, the Netherlands, and the United Kingdom. Once you’ve received your payment, we’ll make sure the car is off your lot within three working days (five working days for Germany). If you are in any other country, you’ll need to transport the vehicle to an OPENLANE hub in your country and from there, we’ll transport it to the buyer.

Exceptions:
1 – For customers with the level assigned: “Basic”.
2 – Deliveries outside the above-mentioned countries—both require vehicle drop-off at an OPENLANE hub or pick-up by OPENLANE before payment.

1.2 What happens if my vehicle is sold to an international buyer?

With OPENLANE, international sales are as easy as can be. You sell directly to us, and we take care of all the administration and logistics. This comes with certain advantages:

  • You access international buyers without cross-border complications. Because you sell directly to us, you’re only involved in a local sale. The VAT requirements and logistics of delivering the vehicle to the international buyer are all handled by us.
  • You access markets for ‘unsellable’ vehicles. We find buyers for cars that you can’t sell in your own country, for example, heavy diesel cars.
1.3 Do I need to deliver the vehicle to a hub?

You are required to deliver the vehicle to a hub if:

1 – You’re located in a country other than Belgium, France, Germany, Italy, the Netherlands, and the United Kingdom.
2 – Your assigned customer level is “Basic”*

* in certain cases, a pick-up from OPENLANE is possible. In this case the payment will be processed after the pick-up.

1.4 How do I know the address of the hub I need to deliver the vehicle to?

If you are required to deliver the vehicle to an OPENLANE hub, you will receive an email from OPENLANE after assigning the vehicle. This email will provide details on invoicing and the hub’s address. Refer to section 1.3 to determine whether hub delivery is applicable to you.

1.5 Do I have to contact the buyer directly?

No. For sales with OPENLANE, you sell directly to us and we sell to the buyer. This way you only interact with us, your payment is guaranteed, and you enjoy an easy administration process. We take care of all VAT requirements and paperwork.

1.6 When will I receive my payment?

If you are located in Belgium, France, Germany, Italy, the Netherlands, or the United Kingdom, you’ll receive your payment within two working days of accepting an offer (only applicable for Advanced, Premium or Partner levels). If you are not in one of these countries, or if you have a “Basic” level account, we will pay the invoice as soon as the vehicle arrives at an OPENLANE hub or when it is pick-up by us.

1.7 How much time do I have to accept a bid?

You have one day to decide whether or not to accept a bid. Once you do, the vehicle is sold.
If you choose to enter a negotiation with the highest bidder, this time will be extended with one day.

1.8 Do I have to sell to the highest bidder?

No, you are not required to accept an offer that does not meet your expectations. If you are an OPENLANE Sell user, you also have the option to negotiate with bids that are close to your desired price.

1.9 How quickly will I know the auction result?

As soon as the auction is closed, you will receive the highest bid under “to be assigned” in your OPENLANE Sell portal.

1.10 How long does an auction last?

Dynamic auctions, target auctions and blind auctions are typically open for 48 hours. Buy Now auctions usually only run for 24 hours. This may differ in the United Kingdom, in which case, your sales expert will keep you informed of the auction schedule.

1.11 What is OPENLANE’s auction process?

We offer five different types of auctions:

Dynamic auctions
These make up the majority of the auctions at openlane.eu. The process for a dynamic auction is very simple: the auction is set up for a specific amount of time. Buyers can see what the current highest bid is at any moment. Bidding is closed when the auction ends.

Target auctions
Target auctions are similar to dynamic auctions, but with one important difference: a reserve price is defined in advance. This is listed near the current price. If the target price is reached during the auction, the highest bidder is guaranteed the sale.

Buy Now auctions
In a Buy Now auction, buyers can reserve a car immediately by bidding the Buy Now price. It’s also possible to place a bid for less than the Buy Now price, however in that case, the seller has the right to accept or refuse the offer. For ‘Buy Now and Pick up’ auctions, the basic process is the same, but the car is ready to be picked up as soon as the auction is finished.

Blind auctions
A blind auction offers a particular advantage: buyers do not see each other’s bids. There is no bidding competition, buyers send in their best offer before the end of the auction and we’ll send you the highest bid.

24/7 Stock Sale
In a ‘24/7 stock sale’ you can buy stock cars at fixed prices. Discover a wide range of cars that are available for immediate purchase at the ‘Buy Now’ price, 24 hours a day, 7 days a week.

Stock cars are added on a daily basis, making it easy to find new options regularly. This stock sale is the perfect solution if you prefer not to buy in an auction setting, offering a straightforward and efficient way to acquire vehicles.

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