Preliminary Bidding
What is preliminary bidding?
Preliminary bidding establishes the starting price for the live virtual sale. During the preliminary bidding period, Members may log into their account at www.copart.ie and submit bids electronically.
The highest preliminary bid will compete against virtual bids via BID4U during Virtual Bidding.
What is the preliminary bidding period?
The preliminary bidding period starts the moment the vehicle appears on the website and lasts up until the vehicle is two units away from being the Lot on the block in the live auction
What is BID4U?
Copart uses BID4U to make the bidding process easier and more efficient. BID4U represents the highest preliminary bidder during the virtual sale. Simply enter the maximum price you are willing to pay for the Lot during preliminary bidding and BID4U will bid on your behalf up to your maximum bid during preliminary bidding and during the virtual sale. BID4U will only bid one increment over the current bid to maintain your position as the highest bidder. This allows you to purchase a vehicle below your maximum bid if bidding does not meet or exceed your maximum bid. If you select the bid increment option, BID4U will bid one additional increment over your maximum bid to break a tie. If a bidder with a higher maximum out-bids you, Copart notifies you via email. As a security precaution, no one, including Copart associates can see your maximum bid. It is 100% confidential!
What is increment bidding?
Increment bidding authorises Copart to increase your bid by one and only one increment if a live virtual bidder matches your bid. Your bid will not be incremented if it is the highest bid.
Is the bid increment amount always the same?
No, the increment amount varies according to the current bid value. Subject to change, the increments are based on the following bid values:
| Bid Range (€) | Increment (€) |
| 0-10 | 1 |
| 10-100 | 10 |
| 100-1,000 | 25 |
| 1,000-5,000 | 50 |
| 5,000-25000 | 100 |
| 25000+ | 250 |
How do I get to the bid entry page for preliminary bidding?
You place your preliminary bids on the Lot Details page which can be accessed from any search results table by clicking on the Lot details. Enter your maximum bid and select the Bid Now button to place your bid.
What is interactive online counter bidding?
Counter bidding may occur when the vehicle seller has placed a minimum bid or bid-to-be-approved (BTBA) restriction on a vehicle. If you are the high bidder, the seller may accept your bid or counter your bid.
How do I counter bid a seller's minimum offer?
From the Bid Status tab select Open Items and select the Lot with Seller Countered status.On the Lot Details page you will have three options:
1. Keep Current Bid if you choose not to increase your offer - you may loose this vehicle
2. Accept Minimum to buy the vehicle at the Sellers Minimum price
3. Counter Bid if you want to increase your offer
