Published: 01/31/2014
As you search vehicles and place bids, it helps if you’re familiar with the possible Sales Statuses that can be assigned to vehicles for sale:
- On Approval: TheSeller has reserved the right to approve the final high bid achieved during the virtual auction. The Seller has until 5:00 p.m. GMT two business days after the sale to approve the bid. The high bidder is obligated to purchase the vehicle if released by the Seller within the approval period.
- Pure Sale: There is no minimum bid or reserve price. The vehicle will be awarded to the highest bidder at the close of bidding during the virtual auction.
- Minimum Bid (or On Reserve): The Seller has placed a reserve price on the lot. If the minimum bid is not surpassed during the virtual auction, the Seller has until 5:00 p.m. GMT one business day after the sale to accept the bid.
Sales Status will appear within the Bid Information section on any item that is available for pre-bid.
Once the vehicle is in the live auction, you’ll find the Sales Status in the black tag on the right-hand side of the auction screen.
Members can see the status of vehicles they have bid on. All you need to do is login and click on My Copart and then Bid Status. Members can then see if the vehicle they have bid on has or hasn't met the reserve or is on approval.
What other questions do you have about Sales Status? Contact us here.
