To be eligible to bid you need to buy the Standard Bidding Document (SBD) and place a deposit. The deposit is fully refundable if you do not win a car. If you win a asset, BidMyAsset Buyers Premium is 10% of the final bid price. There will be no other charges by BidMyAsset. If you need an assistance of fulfilment, we can help you for a one time all-inclusive service fee. After winning, you have 3 days to pay full payment or your deposit will be forfeited and the asset will be auctioned again.
When you already buy the Standard Bidding Document (SBD), There will be instruction and site visit form inside the Standard Bidding Document (SBD). You can also contact our Sales Staff to assist you on the site visit arrangement.
At BidMyAsset we tend to do not disclose the reserve worth. this can be to permit you, the bidder, to create the simplest provide on the day of the auction while not the sellers publicised reserve worth preventing you from creating an inexpensive offer. If your highest bid does not meet the sellers reserve price, the final bid is called an “offer” and we will negotiate on your behalf to find a middle ground to help you win the bid.
Yes, proxy bidding is allowed however the account and deposit should be in your name or your name. Any unauthorized use of your account and your deposit is your sole and exclusive responsibility. Once the proxy bidder wins the automotive, the automotive title is transferred to your name or company. If a corporation is registered, then any worker of the corporate will bid on behalf of the corporate.
The Buyers Premium is a fee paid to the auction house for purchasing the vehicle.
Some asset may still be under the manufacturers warranty. BidMyAsset does not offer any warranty or any guarantee on the asset. All asset are sold “as is where is basis”
If you are one of the unsuccessful bidders, your deposit will be returned within 14 days of the auction day.
An item classified as scrap cannot be re-registered with JPJ and is not allowed to be on the road by relevant authorities.
A car with a salvage title has been declared by an insurance company a total loss due to damage such as an accident, hail, water, or fire, as well as theft. Usually, the vehicle has been damaged to the point that repairs would cost more than the value of the car.
You will be given the following document: -
*Asset Listing
*Bidding Flowchart
*Site Visit Form
*Asset Photo
*Offer Submission Form
*Terms and Conditions
*Instruction to Bidders
You are advised to go visit the asset since it will be sold “as is where is basis”. The condition, color, or any other thing inside the document are just for illustration purposes only.
You need to check on the Site Visit Form.