There’s nothing like the excitement of an auction, from the anticipation to the suspenseful countdown; not to mention the chance to take home something you might have had your eye on for a while! At BidMoto, we think the pursuit of the perfect bike is more than a mere transaction. For us, it’s about exhilaration, the thrill of the hunt, the sheer joy of the discovery, and the gratification that comes from being part of a like-minded community. To us, this made an auction format the perfect fit for people wanting to buy and sell their motorcycles.
But adrenaline aside, we wanted to lay out some of our other reasons why we think auctions are a great way to land your dream bike, or get a great price for the one you’re hoping to sell. We’ve also got some tips on how to make the most of an online auction, whether you’re a buyer or a seller.
Why An Online Auction?
There are plenty of ways to sell things online – so why choose an auction?
Auctions can be a great way for buyers to take advantage of potential cost savings and sellers to get a bit more than they might through a private sale. Another benefit is that they make communication more efficient, cutting down on the back-and-forth associated with buying and selling but giving you around-the-clock access to transactions. To avoid scams and misleading product photos, we also vet all members and verify all pictures and listings to ensure that BidMoto’s standards and requirements are met.
Whereas traditional in-person auctions tend to be high-energy, crowded affairs, online auctions offer the same excitement without the noise and the need to travel. You’ll still be on the edge of your seat receiving notifications when bids are placed, or when an auction is won!
Another reason why we started BidMoto is to provide a way for members of the motorcycle community to connect and interact. Once the auction has ended, BidMoto will exchange information between the winning bidder and the seller through our secure system. It is then up to the winning bidder and the seller to arrange for payment and pickup/delivery.
Tips and Tricks for a Smooth Auction Experience
To get the most out of your BidMoto experience, we recommend that you take the time to read through our FAQs. We’ve included information on things like how to take good photos of your bike for a successful listing and submission, what to expect as a buyer and a seller, and what happens once the auction closes.
For any auction, here are some good rules of thumb to follow when bidding:
- Know your budget. Determining the maximum amount you would like to spend beforehand will help you maintain a level head during the bidding process.
- Do your research. Taking the time to read up on the make and model of a bike that’s up for auction will help you determine what you would consider to be a fair price.
- Take a look around. If you’re open to a variety of options, participating in more than one auction can be a good way to increase your chances of getting one of the bikes you have your eye on. Just be sure to monitor the bidding carefully to ensure you don’t end up with both! (Unless, of course, that was the plan the whole time!)
- Watch carefully. Make sure you check in frequently on the status of your auction so that you can get a sense of the activity of the other bidders. Don’t forget to be patient, though – you don’t want to end up making any hasty moves that you’ll later regret.
As a seller, here are some things you should keep in mind:
- Offer as much information as you can. Good quality photos and a detailed listing go a long way in making your offering appealing and fair to potential buyers. We ask for a minimum of 5 photos (both sides, front, back, and the mileage) but strongly suggest that you also include photos of any areas that you wish to highlight, such as tire wear, aftermarket add-ons, or damage.
- Minimum bid: You will be in charge of setting a minimum bid amount for your bike at each auction.
- Reserve pricing: We also offer you the chance to set a reserve price, which represents the lowest offer you would entertain from a buyer. You are not obligated to reveal this minimum price to prospective buyers. Should the reserve price not be met, you retain the option of declining the sale, even if the highest bid is submitted.
So there you have it! We hope you have a blast connecting with our community of motorcycle enthusiasts, finding a new bike, or selling yours for an amazing price. Need anything else? Find more answers to some frequently asked questions or contact us here.
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