Q: What happens once I have won an auction?

When you have successfully won an auction a 8.8% buyer's premium with a minimum of $1,000 and maximum of $16,000 inclusive of GST is deducted from your credit card. This amount does not come out of your final bid as this full final bid goes to the seller.

Question 1

How much does it cost to buy an auction lot?

Accepted Answer

Winning bidders are charged a 8.8% buyers fee that has a minimum of $1,000 and a maximum of $16,000, inclusive of GST. This is excluding your highest successful bid, with 100% of the winning bid paid directly to the seller.

Question 2

When will an auction be extended?

Accepted Answer

Outside of any "external forces" effecting an auction E.g Optus outage, technical difficulties etc. an auction can be extended for two reasons:

1. Bidding Extension: If any bid is placed once the auction timer reaches below 2 minutes the auction will automatically reset the timer back to 2 minutes. There is no limit to this type of extension to give all bidders enough time to have a fair chance at winning an auction.

2. Overlap Prevention: If there are multiple auctions finishing on the same night and an auction that is due to close prior to another auction has been extended due to the situation explained above and now is due to close within 5 minutes of the following auction. The auction with the later close time will be extended by 5 minutes so the auctions do not overlap. This is limited to occur only twice. This allows for bidders who are interested in more than one auction closing on a night.

Question 3

How do I pay the seller?

Accepted Answer

Only the buyers fee is deducted from your credit card. Once the buyers fee has been successfully paid then you are digitally introduced to the seller. The seller will then communicate their preferred method of payment. The most commonly preferred is an EFT and you will pay the seller the full winning bid directly.

Question 4

Does this auction have a reserve price?

Accepted Answer

All auctions have a reserve price unless advertised as “No Reserve”.

Question 5

Does the listing include a road worthy certificate?

Accepted Answer

All vehicle auctions are sold excluding on road costs and without a road worthy certificate unless advertised otherwise.

Question 6

Can I view the auction lot?

Accepted Answer

We aim to provide all of the possible information you would need to make the most informed buying decision, however if you would like to view the auction item then you can arrange that with the seller.

Question 7

How do I contact the seller during the auction?

Accepted Answer

Questions can be submitted at the bottom of each auction listing, with common questions being posted once they have been answered.

Question 8

How do I register to bid?

Accepted Answer

Once you have created an account you need to verify your credit card details by adding them to your “Payment Methods” section of your account. This can be found by clicking “My Account” in the top corner of any page of our website.

Question 9

How do I keep track of an auction?

Accepted Answer

You can add an auction to your watch list, this can be done by either clicking the “add to watch list” icon inside the auction listing or by clicking the star icon in the thumbnail of each auction. This will then send you updates of bids, reserve changes or when an auction is coming to an end etc.

Question 10

What happens once I have won an auction?

Accepted Answer

When you have successfully won an auction a 8.8% buyer&#x27;s premium with a minimum of $1,000  and maximum of $16,000 inclusive of GST is deducted from your credit card. This amount does not come out of your final bid as this full final bid goes to the seller.

Question 11

Does my bid include taxes and duties?

Accepted Answer

All vehicles sold are excluding on road costs which are payable by the purchaser in the state they are to register the vehicle.

Question 12

How do I know if I am buying from a dealer or private individual?

Accepted Answer

At the bottom of the Key Information box which is located on the righthand side of any listing it will state if this listing is Private or Dealer.

Question 13

Can I cancel my bid?

Accepted Answer

All bids are final and cannot be canceled or removed due to mistakes or a change of heart. Please be sure of the amount you are bidding and your decision to bid.

Question 14

How much does it cost to list and sell on Trading Garage?

Accepted Answer

There are no fees to list with Trading Garage and you will receive 100% of the final sale price.

Question 15

What kind of listings will you accept?

Accepted Answer

Anything interesting or rare with a realistic reserve price will be accepted for listing.

Question 16

How do I submit a listing?

Accepted Answer

To submit either a car, race car or number plate click here. We will get back to you within two business days to discuss your submission further.

Question 17

How much information do you need about my listing?

Accepted Answer

Our team will ask you a specific range of questions, directly relatable to your vehicle, from ownership history to recent service information.

Question 18

Can I set a reserve price for my auction?

Accepted Answer

A reserve price is the lowest price that your auction will sell for. Once your listing is deemed suitable, we will then work with you on a realistic reserve price to ensure a successful auction.

Question 19

What is the process of listing an auction?

Accepted Answer

Once we receive your listing submission, we will make contact with you to discuss and agree a reserve price. From that point we will then organise photography, draft your listing and await your final sign off to schedule your auction.

Question 20

Do I need to make my listing available to be inspected?

Accepted Answer

The aim of Trading Garage is to provide sufficient information that buyers will feel confident to purchase your listing unseen, however there will always be buyers that need to see your listing with their own eyes. Only verified bidders are able to request to view an auction lot and to date 100% of auctions have been sold sight unseen.

Question 21

Who takes the photos of my listing?

Accepted Answer

As part of providing the most detailed listings available all of our vehicle listings will have a minimum of 100 photographs highlighting all of the details specified in the listing. If you are not able to provide this yourself, we have a team of professional photographers Australia wide that are available for very reasonable amount.

Question 22

Can I cancel my auction once it goes live?

Accepted Answer

Once your auction has gone live you cannot cancel. If you do withdraw your auction once it has gone live you will be required to pay the fees outlined in our terms and conditions

Question 23

What happens once my auction has finished?

Accepted Answer

If the final bid has been successful in meeting your reserve price and the buying premium has been paid, we will digitally introduce you to the winning bidder to complete the transaction.

Question 24

What happens if the auction finishes and my reserve price is not met?

Accepted Answer

There will be a 24-hour period you have to accept the highest bid, if no response is received in 24 hours than that will be taken as a decline of the highest bid. You then have the option to list it in the Buy It Now section to arrange a post auction sale.

Question 25

What happens to the listing once the auction has finished?

Accepted Answer

If your auction has been successful then it will appear in our sold section with the bid history and comments removed. If it was unsuccessful then it will be taken down however will still be able to be found via online search engines.

Question 26

Can I lower my reserve during the auction?

Accepted Answer

Yes, you can lower your reserve at any time during the auction.

Question 27

I still don&#x27;t understand how this all works.

Accepted Answer

We are here to provide the best buying and selling experience possible, please feel free to contact us to discuss the process of buying or selling via phone or email.

Question 28

I am not receiving email updates even though I am subscribed.

Accepted Answer

Check your junk/spam folder as sometimes it can be flagged, also check that your email address is correct on your account settings.

Question 29

I am having a technical issue.

Accepted Answer

Please contact us for any issue.

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