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| 1 | Log on to www.MotorExchange.in |
| 2 | If you are a registered user, type in your username and password in the login box located under the live events link and click “login”.
If you are not registered yet, click on the Register button and provide all the necessary information to complete the registration process and start buying vehicles.
Upon login, you will be taken to the Live Events page. On this page, all active events will be displayed upon which you can bid. When you click any of these events, the vehicles listed within them will be displayed. Columns with each vehicle’s information and bidding details will be provided. If you want to see more information of each vehicle, you can press the Full Description link to see all the details of the vehicle first and bid from that page.
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| 3 | In the right-most column you will see a field labeled “Enter your bid.” Enter your bid for which ever specific vehicle listing you are interested in and then press the “BID NOW” button. You can also select the option to ‘Autobid’ if you would like the system to automatically bid for you upto the specified amount. All bids must be made in the increment amount set or an amount more than that.
Ex: If the current bid amount for a Toyota Corolla MH-02-XY-1234 is Rs. 5,00,000 and the increment amount set for the auction is Rs. 20,000 then you must bid at least 5,20,000 in order to be the winning bidder. You can bid any amount over this figure as well, however, you cannot bid anything under the winning amount plus one increment (such as 5,19,000) for the bid to be registered.
After clicking ‘bid now’, you will see a confirmation prompt. Press “confirm” if the bid amount you have input is correct.
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| 4 | If another user bids an amount higher than that of your current amount, then the higher bidder will now become the winning bidder. |
| 5 | The Autobid feature bids on your behalf up to a maximum amount set by you. This way you do not need to constantly monitor each auction. It will not directly increase your bid amount to the maximum amount specified by you, but will only bid higher to meet the current highest bid amount. |
| 6 | Once the auction comes to a close (and if the reserve price has been met) and you are the winning bidder, you will be notified via email of the final steps in order to complete the transaction securely. |
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Here are some other things to keep in mind:
Soft close: If an auction receives bids near its closing time, the auction may be extended by a few more minutes. If this increased bidding continues to take place in the same manner, the extensions may be repeated indefinitely.
Reserve Price: The lowest price at which a seller is willing to sell an item in an auction. When sellers are listing an item, they have the option of choosing to set an amount. If it is not met, the seller is not obliged to sell the item to the winner.
Legally Binding: Please note: if you win an auction, you are legally obliged to purchase the vehicle. Not completing the auction may have consequences for your account with MotorExchange.
Post-approval auctions: In some cases, the seller will have to approve your bid after you win the auction. We will notify you when the approval has been made.
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