Modern online wholesale and retail auctions and marketplaces are very popular among the Internet buyers because of their user friendliness, time saving, good conditions and comfortable prices. Automotive industry can boast with the opportunities these platforms open for dealers and shoppers. High quality vehicle displays, automated inspection reports, simulcasts, website promotion services, advanced conversion tools, and global audience is just a small part of the features this market niche willingly shares.
Car auction platforms offer dealers and their customers different approaches of user behavior like proxy bidding, live bidding, make offer, buy now, reserve price, etc. All these methods are highly competing but the most favoured one is proxy bidding. Proxy bidding as was mentioned in the previous articles is a real chance for a dealer to invite more customers who can purchase a vehicle at a lower price than they bid. Proxy bidding is mutually profitable for both dealers and consumers. It can include sniping which is cheating the bidders use to win. The difference between proxy bidding and sniping is that in the first case the auction system ups the bids immediately with the increment value. All the users can see it. The “sniper” hides the bid and reveals it at the very end of the auction.
Sniping is a common practice especially designed for buyers. It automatically places the bids or snipes on the online auctions at the last seconds of the auction time. Usually a snipe is done 5-7 seconds before the end. If you bid at the last moment the chances to win and to buy the vehicle at the price lower than your own greatly increase. It is hard to react to it so fast thus the winner will be a user who made the maximally lowest winning bid with sniping.
Auction buyers widely use this program because it snipes the bids which are a little bit higher than a previous bidder’s try. So you don’t overpay at all. For example, you set up your “sniper” for a car up to $20 000. By the end of the auction time the car price has reached $15 000 only. The “sniper” helps you win it at $15 100. Unless there is another buyer sniping a higher bid.
The use of “sniper” programs is not allowed by the law because in order to place a bid the “sniper” requires the access to your account, that is your login and password. It is regarded as handing your personal sensitive information to the third party. Online auctions try to protect their users from this dishonest policy. They install a special software which reacts to sniping bids by extending the auction time to outbid.
Autoxloo provides a strong and reliable protection from the “sniper shots”. Our auction and marketplace platform uses Extended Time feature. It identifies sniping immediately and extends the auction period in two times. So if you bid at 25th second before the end 50 seconds will be added more. Thus buyers have a chance to outbid and can be sure in the honest and transparent bidding process. Rely on the real professionals from Autoxloo! Try our products today and win your customers tomorrow!