Auction Guide

After registering and logging in, you must submit the relevant documents for approval and top up a USD 500 security deposit.

The document requirements differ for businesses and individuals, as detailed below:

Businesses: Upload the business license and storefront photo. If there is no storefront photo available, a photo of the business premises may be submitted as an alternative.

Individuals: Upload a passport or driver's license.

The base vehicle price (excluding trade-related costs such as transportation, customs clearance, and platform service fees) is displayed prior to winning the bid. Once you have successfully won the bid, you will be required to complete the trade information, after which the platform will issue a final trade total price.

1.1 The platform conducts open auctions.

1.2 Each vehicle has a Starting Bid and a Reserve Price.

1.3 Each bid must be increased in increments of whole hundred RMB.

1.4 The exchange rate is fixed per session, from the preview start until the session ends.

2.1 Vehicles are grouped into sessions. Each session contains one or more vehicles.

Auction sessions have two stages: Bidding Open and Auction Live.

3.1.1 Starting Bid is visible.

3.1.2 Reserve Price and Current Highest Bid are hidden

3.1.3 One bid per vehicle allowed.

3.1.4 Bid by manual entry or using fixed bid increments.

3.1.5 Bids must be higher than the starting price and exceed the current highest bid.

3.1.6 All bids cannot be canceled.

3.1.7 You will be notified if your bid is currently the highest.

3.2.1 Starting Bid is visible.

3.2.2 Reserve Price and Current Highest Bid are hidden

3.2.3 One bid per vehicle allowed.

3.2.4 Vehicles in the same session are auctioned sequentially in real-time

3.2.5 Multiple bids allowed on the live vehicle

3.2.6 Bid by manual entry or fixed bid increments

3.2.7 Cannot bid on vehicles awaiting their turn

3.2.8 You will receive a real-time notification if another bidder places a higher offer than yours. The system will also alert you when the current highest bid meets or exceeds the vehicle's reserve price.

3.2.9 40-second bidding timer per vehicle

3.2.10 Automatic 10-second extension if a new bid is placed in the last 10 seconds

Fixed bid increments in RMB are converted to USD using the session's exchange rate and rounded up to the nearest whole dollar. Example: 100 RMB at an exchange rate of 7.2 is converted to 14 USD.

If a manually entered bid amount in USD corresponds to a non-whole hundred RMB value, the system will convert it to RMB, round to the nearest whole hundred, then convert back to USD and round up.

If your bid exceeds the reserve price and is the highest, you win the vehicle immediately. The winning amount is your final bid.

If your bid does not exceed the reserve price but is the highest, you can still win if the seller accepts your bid. The winning amount is your final bid.

The winning bid for each vehicle will be confirmed and displayed when the auction ends.

Please complete and submit your account qualification information. Once your documentation is approved, you will receive a 90-day limited-time free membership (original price: $249). During the membership period, you will have free access to view all vehicles in the auction. Please note that the membership will automatically expire after 90 days.

The transaction security deposit serves as a guarantee that both buyers and sellers comply with the platform's transaction rules. In the event of a user's breach of terms, the deposit will be used in accordance with relevant regulations to pay compensation to the non-breaching party and/or the platform.

2.1 The minimum deposit top-up amount is USD 500.

2.2 If the available deposit balance falls below USD 500, users will be unable to place bids on vehicles.

2.3 A bid amount of USD 100 will be temporarily blocked for each vehicle on which a user places a bid exceeding the seller's reserve price.

3.1 At the conclusion of the open auction, if the highest bid exceeds the reserve price (or is approved by the vehicle owner), the highest bidder shall be deemed the successful winner. The system will automatically generate an order, and a sum of 100 US dollars will be frozen from the successful bidder's account upon order creation. Failure to complete the order within the specified time limit will result in the forfeiture of the 100 US dollars as liquidated damages.

3.2 if a new successful bid is confirmed subsequent to the initial winning bid, the original successful bid shall be deemed null and void.

4.1 If the transaction is completed normally after order placement, the blocked deposit amount will be automatically released upon transaction completion.

4.2 If either party breaches the transaction rules (as determined by the platform) after order placement, the breaching party will incur corresponding penalties deducted from the deposit, and the affected non-breaching party will receive compensation.

If a buyer fails to complete the order or causes order cancellation due to their own reasons after participating in an open auction, corresponding penalties will be applied:

If the buyer fails to make payment within 3 days after successful bidding, a penalty of 10% of the transaction price (minimum USD 500) will be deducted.