Trader-Net Buying Guide
Before you can bid you need to register; the registration process ensures that only genuine motor traders have access to bid on vehicles.
Once registered a user logs in and browses available stock. If a vehicle appears of interest a user can place a bid or add that vehicle to a watch list. If a bid is submitted the site will ask a user to confirm the bid, once confirmed the system will inform the user via email, and on screen, if they are the current highest bidder.
Trader-Net operates a continuous live 24/7 auction, therefore bids can be submitted at any time up until the auction for that particular vehicle ends. Buyers bid against each other in real time to secure a vehicle. During the course of an auction a user may bid, be outbid and respond with a higher bid as many times as they see fit – Trader-Net does NOT operate a “single” or “closed bid system”
Trader-Net also operates a max bid system allowing users to submit a single maximum bid for each vehicle they wish to purchase. The bidding system does not show your max bid to other users, instead the system will automatically increase your bid if other bids are received.
My Trader-Net allows a user to access all relevant information including: vehicles they are watching, vehicles they are bidding on, and vehicles they have won.
Trader-Net is focused on keeping busy motor traders informed of the status of their bids. The site emails users regular updates including:
Outbid notification, Winning Notification, Reserve Met notification, New vehicles added to the auction, Ending soon notification, Won vehicle notification.
Highest Bidder – Reserve Met – Item Won
As an auction ends, providing the vehicle has meet reserve, the site will email details of the selling party. The buyer, adhering to the code of conduct, contacts to the seller and arranges to collect and pay for the vehicle.
Highest Bidder – Not met reserve – Seller may contact
If an auction ends and the reserve has not been met, the system informs the seller of the highest bidders’ details. The seller then has the option to contact the highest bidder to agree a sale.