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.

1.1 We conduct silent auctions. Each vehicle has a Starting Price.

1.2 The current highest bid is not visible to participants.

2.1 One daily session begins at 11:00 AM Beijing Time (UTC+8). Each session contains one or multiple vehicles.

2.2 Bidding is conducted in a single phase: "Active Bidding".

2.3 During this phase, you may place bids on available vehicles. Multiple bids per vehicle are allowed.

2.4 All bid amounts must be in increments of 100 RMB.

2.5 You may place a bid by manually entering an amount or using a fixed bid increment.

2.6 No notifications will be sent if your current bid is outbid.

3.1 A fixed exchange rate is set at the session start (11:00 AM Beijing Time) and remains valid until the session ends.

3.2 Fixed bid increments in RMB are converted to US dollars and rounded up to the next whole US dollar (e.g., 100 RMB at a 7.2 rate becomes USD 14).

3.3 If a manually entered bid in USD converts to a non-hundred RMB amount, the system will first round the RMB equivalent to the nearest 100, then convert it back to USD and round up.

4.1 The auction ends daily at 11:00 AM Beijing Time.

4.2 Results are announced at 11:30 AM Beijing Time.

4.3 The highest bidder wins, but pays the amount of the second-highest bid.

5.1 After winning, you must wait for seller confirmation. The seller has 72 hours to respond.

5.2 If the seller confirms, your order is automatically generated.

5.3 If the seller does not confirm, no order is created, and the winning status is voided.

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.

1.1 Within 72 hours of successful order placement, a payment of USD 300 is required.

1.2 Failure to pay this amount within the timeframe will result in a USD 150 penalty, which will be deducted from your security deposit.

2.1 After paying the initial USD 300, the 30% vehicle deposit must be received within 10 days.

2.2 Late Payment Fee: If the deposit is not received within this 10-day period, a late fee of USD 20 per day will be charged until the deposit is fully paid.

2.3 Order Cancellation: If late fees have accrued for more than 7 consecutive days and the deposit is still not paid, the order will be automatically canceled. This will be treated as a buyer-initiated vehicle return (see Rule 3).

3.1 If an order is canceled due to the buyer's reason (including failure to pay as outlined above), a USD 150 processing fee will be charged.

3.2 Deduction Method:

3.2.1 This fee will first be deducted from any available security deposit.

3.2.2 If the security deposit is insufficient, the remaining balance will be deducted from any vehicle payments already made.

The total Platform Service Fee consists of: Transaction Commission + Gate Fee + Online Technology Fee + Buyer Service Fee.

2.1 For vehicles with a listed commission rate: The fee is calculated based on the rate displayed on the vehicle page. The minimum charge is USD 280, and the maximum charge is USD 1,600.

2.2 For vehicles without a listed commission rate: The fee is calculated as Final Bid Price × 5.66% (minimum), with a minimum charge of USD 280 and a maximum charge of USD 1,600.

A fixed fee of USD 79 applies per transaction.

The Online Technology Fee is determined based on the final bid price (USD), according to the following schedule:

4.1 If the final bid price is greater than $0 but less than $1,000, the Online Technology Fee is USD 49.

4.2 If the final bid price is between $1,000 and $1,499, the Online Technology Fee is USD 59.

4.3 If the final bid price is between $1,500 and $2,399, the Online Technology Fee is USD 79.

4.4 If the final bid price is between $2,400 and $3,999, the Online Technology Fee is USD 89.

4.5 If the final bid price is between $4,000 and $6,999, the Online Technology Fee is USD 99.

4.6 If the final bid price is between $7,000 and $9,999, the Online Technology Fee is USD 109.

4.7 If the final bid price is between $10,000 and $14,999, the Online Technology Fee is USD 139.

4.8If the final bid price is $15,000 or above, the Online Technology Fee is USD 149.

The standard Buyer Service Fee is USD 150. It is currently free of charge.