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Guazi Auction Guide: Sealed-Bid vs Live Used Car Auction Rules
1. Similarities (Sealed-bid & Live Auction)
● Both require account approval and a USD 500 minimum security deposit to bid.
● Same document requirements for individuals and businesses.
● Same VIP privilege: 90-day free membership after approval.
● Bid increments must be in 100 RMB multiples.
● Same exchange rate and USD conversion rules.
● Both freeze a 100 USD deposit after winning a vehicle.
● Same deposit release mechanism after full transaction.
Bid Now >>>Sealed-bid Auction
Bid Now >>>Live Auction
2. Differences: Sealed-bid Auction vs Live Auction
| Item | Sealed-bid Auction | Live Auction |
|---|---|---|
| Auction type | Sealed, silent auction | Open auction with two stages: Bidding Open + Auction Live |
| Number of bids per vehicle | Multiple bids allowed | Bidding Open: only 1 bid per vehicleAuction Live: multiple bids allowed for the current vehicle |
| Bid visibility | Highest bid completely hidden | Starting bid visible; reserve price & highest bid hidden |
| Outbid notification | No notification when outbid | Bidding Open: notified if you are the highest bidderAuction Live: real-time alert when outbid |
| Auction stages | Single stage: Active Bidding | Two stages: Bidding Open → Auction Live |
| Time structure | Daily session: starts & ends at 11:00 (Beijing time) | Each vehicle: 40-second timerIf bid in last 10 seconds: auto 10-second extension |
| Vehicle bidding order | Bid on multiple vehicles at the same time | Vehicles auctioned sequentially; cannot bid on upcoming vehicles |
| Bid cancellation | No rule forbidding cancellation | Bidding Open: bids cannot be canceled |
| Winning price rule | Highest bidder wins, pays the second-highest bid | Highest bidder wins, pays his own final bid |
| Penalty for buyer default | Penalty is USD 150 for buyer cancellation or non-payment | Penalty: 10% of transaction price, min USD 500 for non-payment within 3 days |
FAQs
1. Why Choose Guazi?
- Sufficient Vehicle Sources: The number of vehicles listed on the platform exceeds 2 million every year.
- Strict Inspection: Each vehicle has to go through 200+ inspection procedures
- Complete Trading Service: The platform has served over 1 million dealers in the past 10 years.
- Logistics Guarantee: Complete logistics service & supports door-to-door shipping to 50+ countries.
2. How to Become a Used Car Dealer with Guazi？
Guazi is building a global dealership network, with a presence across Africa, the Middle East, Central Asia, and other regions. We connect dealers in Ghana, Nigeria, Egypt, Côte d'Ivoire, Morocco, the UAE, Kazakhstan, Uzbekistan, and more with high-quality Chinese used cars at competitive wholesale prices.
Locate the best car auction near you, and become our authorized dealer easily.
3. What Distinguishes a Live Auction from a Sealed Auction?
You make your best offer in private at a sealed auction; no one else can see it. The bid is one-time only. Every bid in a live auction is made in real time and is open to the public. If you want to remain in the running, you can see what other people are offering and decide to raise your bid.
4. How Many Cars Are Put up for Auction on Guazi Every Day?
With over 4,000 new listings added every day, our auction site is one of the biggest in the world. This steady flow of inventory makes sure that buyers in China and internationally can always find the widest range of makes, models, and price ranges.
5. How does Guazi Ensure Car Quality at Auction?
Every car goes through a thorough 300-point professional check. Our long history of over 34 million vehicle inspections in the last ten years backs up this process. Before you bid, we give you high-resolution photos and detailed reports so you know exactly what the car is like.
6. Who Is in Charge of Shipping and Customs?
Once you've bought the car, we'll help you set up the schedule for getting it and shipping it. You will be in charge of clearing customs and picking up your car after it arrives at its destination. We provide the paperwork you need to make this last step go as smoothly as possible.
Other Blog
>>>How to buy used cars at a sealed-bid auction
>>>Car Auctions: Your Ultimate Guide to Buying Used Cars at Auctions in 2026
>>>Which Approach Is Better for Your Budget: Sealed or Live Auctions?
>>>The Complete Guide to Guazi Auctions: How to Place a Bid and Win Your Next Car
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