How the Auction Works

The Seller registers with AUTOBID and creates a private vehicle listing.

The listing specifies the known characteristics, defects, location, and other requested information. The Seller uploads photographs and, where necessary, images of documents.

AUTOBID checks the completeness, format, and internal consistency of the listing data within the functions of the Platform and moderates the uploaded materials. Such checking and moderation do not confirm ownership, legal title and absence of encumbrances, mileage, or the technical condition of the vehicle.

The Seller is responsible for the accuracy of the information provided.

One placement ticket is required for the first submission of a Lot.

When the Lot is submitted, the ticket is reserved but is not yet considered used. At the same time, the Seller confirms the current Public Offer as applicable to this Lot and consents to providing the Final Leader with their name, email, and telephone number if the auction ends with a successful result.

The Lot will not be submitted without the required confirmations.

After submission, AUTOBID reviews the listing. There are three possible outcomes:

• Approved. The Lot is published according to the established schedule. The placement ticket is used upon the first successful publication.
• Corrections required. The Seller receives comments, corrects the listing, and resubmits it. No new ticket is required for this Lot.
• Rejected. The Seller receives the reason and available next steps, including an appeal, resubmission, or cancellation of the unpublished Lot. If it is canceled before the first publication, the placement ticket reservation is released.

Before participating, the User can see the main auction parameters:

• start date and time;
• scheduled and actual end time;
• starting and current price;
• minimum bid increment;
• parameters for extending the final minutes;
• information about the reserve price to the extent provided;
• the possibility of accepting the highest bid early, if available.

The reserve price may be hidden. The variable parameters of a particular auction are determined by the data shown in the Lot and the fixed server snapshot of its conditions.

Before placing the first bid in a particular Lot, the Participant confirms the current Public Offer as applicable to this Lot and consents to providing the Seller with their name, email, and telephone number if they become the Final Leader.

One participation ticket is charged only after the Participant's first bid accepted by the server in this Lot. A rejected bid does not use a ticket, and subsequent bids by the same Participant in this Lot do not require a new ticket.

If a delay before submission is enabled, the bid can be canceled during the countdown. After confirmation by the server, the bid is considered accepted and cannot be canceled separately.

The Seller may not bid on their own Lot directly, through another account, or with the assistance of related persons.

The AUTOBID server and the actual end time displayed by it are the source of truth.

If a valid bid is received within the established interval before the end, AUTOBID may automatically extend the auction. The new time immediately becomes the actual end time. The number and duration of possible extensions are shown in the Lot conditions.

In the case of virtually simultaneous bids, priority is given to the bid accepted by the server first. A bid received after the actual end time is not accepted.

Upon ordinary completion, the Participant with the best valid bid becomes the Final Leader if the Lot conditions, including the reserve price, have been met.

If the reserve price has not been reached or there were no valid bids, the auction ends without a successful result. For some Lots, the Seller may accept the current highest bid early using the function provided in the interface.

The Seller may cancel a published Lot before the result is determined, including if the vehicle has been sold or transferred to another person through another platform or by another means, lost, substantially damaged, or is otherwise no longer offered for sale. Once such a circumstance arises, the Seller must cancel the Lot without unjustified delay.

If the Lot is canceled before the result, the participation tickets used by the Participants are returned. After the first publication, the placement ticket is not returned to the Seller.

Cancellation of a Lot must not be used to artificially determine the market price, manipulate bids, or systematically disrupt auctions. Repeated unjustified cancellations may result in restrictions on the ability to place new Lots or other measures provided for by the Public Offer.

After the Final Leader is successfully determined, AUTOBID automatically discloses the contact details only to the Seller and that Final Leader based on their prior confirmations.

After that, the parties independently:

• contact each other;
• inspect the vehicle;
• verify the original documents, ownership, and restrictions;
• agree on the final price and payment method;
• conclude the agreement;
• make the payment and carry out the transfer, registration, and delivery.

The Final Leader does not automatically purchase the vehicle, and the Seller does not receive payment through AUTOBID. The auction result records the best offered price and gives the parties the opportunity to continue the transaction directly.