everything you need to know about our online auction
buy or sell
We Work With Buyers and Sellers to ensure a smooth transaction
how does bidding work?
When bidding, A 5% hold is put on a credit card or escrowed via debit /ACH deposit. All bids are verified by a credit card hold to secure commitment of prospective buyers. When a bid is submitted, a hold is placed on the credit card for 5% of the bid amount. When the auction closes, the hold is released, and / or escrow deposits are returned, for all bidders who did not win the auction. End of auction “sniper” (the practice, in a timed online auction, of placing a bid likely to exceed the current highest bid as late as possible) protection extends the auction clock by two minutes each time a bid is placed in the auction’s final moments. The auction is not over until two full minutes have passed since the highest bid was placed. Please review the complete listing and perform all necessary due diligence before placing a bid. Direct any questions to the appropriate NFIAuctions Representative.
The Post Auction Process
If the auction reserve is met when the listing ends (or the auction has no reserve), NFIAuctions will work directly with the winning bidder to complete the sale. NFIAuctions will work to complete the transaction and arrange for shipping if necessary. NFIAuctions will work with NFI Empire to complete vehicle registration if requested or required. If the auction reserve is not met when the listing ends, NFIAuctions will work with the high bidder and the seller in hopes that they can work out a deal.
Our Fees Are Simple
Sellers pay our standard consignment fees. There are no other seller fees on NFIAuctions. Buyers pay a 5% fee on top of the final sale price to NFIAuctions, with a minimum of $250, and a cap of $5,000. Sellers have the option to pass the fee off to the buyer, split the fee, or refund the fee in order to make their auction more appealing.
FAQ
01.
How long do auctions last?
Auctions start and end 7 days a week, with regular listings live on the site for 7 days. Special vehicles may run longer. Auctions will always end during traditional business hours to avoid off hour closings- 9AM-8PM EST.
02.
I want to bid on a listing. Where can I find all the relevant details?
Please read the listing in full and review all photos and videos and the entirety of the comments for details of the car. Questions can be asked via the comments section or the Contact NFI Representative button.
03.
What happens if I win an auction and how does payment work?
The 5% buyer’s fee is paid via the buyer’s card on file at auction close. Post sell financing can be obtained for pre-qualified Buyers. .
04.
Can I bid if I'm not in the US?
Absolutely! As long as you have registered, placed a credit card on hold, or funded your account through one of the funding options. We ship worldwide.
05.
Why does the clock keep resetting?
It’s common in online auctions for buyers to use special software to enter a bid in the very last seconds of the auction to outbid others without giving them a chance to respond. During the last 2 minutes of NFIAuctions, the clock resets to 2 minutes after every bid. This happens until no more bids are placed and the auction ends. This gives everyone a chance to place their bids and gives Sellers a chance to sell to the true high bidder.
06.
How does shipping work?
We offer nationwide and international Shipping…you can request a quote prior to, during or after the auction.
07.
How do I contact a seller?
An NFIAuctions Representative will coordinate and record all communication between the Buyer and Seller. Look for the “Contact Seller” box on every live auction. Buyers must be registered to bid to do this.
08.
How do I sign up for auction updates?
You can register directly on our site (hotlink here) You can subscribe to receive email and text auction updates by clicking into an auction listing and selecting the “watch” button at the top. If you no longer want to receive auction updates from a particular auction, you can click the “watch” button again to un-watch it. If you would like to see all the auctions that you are “watching”, you can go to the general Auctions page and click “Watched” at the top. This will filter so that you only see which auctions you’re “watching”.
09.
How much is the buyer's fee?
If you win an auction we charge 5% of the final bid price on top of the winning bid, with a minimum fee of $250 up to $5,000 (5% of a $100,000 bid). The fee for sales higher than $100,000 is capped at $5,000.
10.
Why is there a hold on my card?
When bidding, we place a hold on your card for 5% of your initial bid amount with a minimum hold of $250 and maximum of $5000. Should you win the auction, that hold will be converted to a charge. If not, the hold will be released immediately at auction end. It can sometimes take a few days for your bank to release the funds.
11.
Can I cancel my bid?
We do not cancel bids. Please be very careful when placing your bid. Review all data and contact a NFI Representative with any unanswered question
12.
How can I inspect a car?
An NFIAuctions Representative will provide all inspection data and, in most cases, face time with the Buyer to tour the vehicle at auction live.
What Kinds of Cars Do We Auction?
We choose which vehicles we list based on a number of factors. The biggest factors are: do we like it, would we drive it and is it cool? What is cool? It depends on emotion, condition, rarity, reserve price, documentation, etc.
About Reserves
01.
How do reserves work?
A reserve is the minimum price that a vehicle will sell for. We avoid vehicles with reserves that are not realistic or in line with market expectations. Reserve values are not shown on the listing. We do not announce when reserves have been met.
02.
What happens if the reserve is not met on an auction?
If the reserve is not met, we work with the Seller and the high bidder in hopes that they can reach a deal.
03.
How do I know if an auction has a reserve?
Vehicles being offered at No Reserve are announced and listed at the auction onset.
04.
Can I buy a car that didn't meet reserve?
For cars that do not meet reserve, NFI Auctions works with the Seller and high Bidder’s to see if a deal can be made.