Buying from Auction
Discussion
Good afternoon all,
General question, looking to buy a 2-3 YO car from auction, and have come across a site called flippingxxxx.co.uk which offers a service to bid on your behalf and save you a fair bit in "Bidders Premium" aka auction house buying fees. Using the service unlocks a lot of the tools that the average Jo cannot access. E.g. online bidding.
It all looks straight forward enough, but was wondering if anyone had, had any first hand experience of the process?
Many thanks in advance.
General question, looking to buy a 2-3 YO car from auction, and have come across a site called flippingxxxx.co.uk which offers a service to bid on your behalf and save you a fair bit in "Bidders Premium" aka auction house buying fees. Using the service unlocks a lot of the tools that the average Jo cannot access. E.g. online bidding.
It all looks straight forward enough, but was wondering if anyone had, had any first hand experience of the process?
Many thanks in advance.
Edited by Dave5305830 on Tuesday 23 January 16:03
Does the fee/indemnity go in your name? Or in the name of the website/account holder?
This is important as if it's in someone else's name you may not be able to claim yourself if something goes wrong.
The indemnity fee guarantees you title to the car, and at least some sort of comeback if the car turns out to have been clocked/written off etc.
This is important as if it's in someone else's name you may not be able to claim yourself if something goes wrong.
The indemnity fee guarantees you title to the car, and at least some sort of comeback if the car turns out to have been clocked/written off etc.
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