Bidder Process

– Create  Membership Account and Log-In

  • There is no charge to create a Membership Account and Log-In
    • A Payment Account with a valid credit card on file is required to Submit Listings as a Seller or to Bid on Listings as a Bidder
  • Two-Factor Authentication (2FA) is offered as an additional security measure to protect Bidder and Seller Accounts
    • Two-Factor Authentication (2FA) is a security system that requires Two separate, distinct forms of identification in order to access your account
    • The first Factor is your password and the second is an email and/or text with a code sent to you to enter as confirmation
  • A User Number will automatically be assigned
    • The User Number will be displayed in the User Account Section, in your posted Auction History Emails and normally on all Platform Communications
    • It is used in place of your Name / User Name on public postings to protect your privacy

– Exclusive is committed to protecting your information, please see our Privacy Policy for details

– Please see our Terms & Conditions for details on use of the Exclusive Auctions Platform

– Create Payment Account (Must be created with a valid credit card with sufficient available credit for any potential charges as detailed herein)

  • Exclusive contracts with STRIPE for secure payment processing
  • Exclusive Does Not retain payment data internally

– Seller Chooses Sales Success Fee Option During Listing Creation

  • Option 1) Buyer’s Premium – Buyer pays the entire Sales Success Fee in the form of a Buyer’s Premium (Seller Pays Nothing)
  • Option 2) Split Fees – Buyer and Seller Split the Sales Success Fee
    • Buyer pays 1/2 of Total Sales Success Fee in the form of a Buyer’s Premium
    • Seller pays 1/2 of Total Sales Success Fee in the form of a Seller Commission
  • Option 3) Seller Commission – Seller pays the entire Sales Success Fee in the form of a Seller Commission (Buyer Pays Nothing)

– Vehicle Sales (Autos, Motorcycles, Aircraft, Watercraft)

  • 5% Sales Success Fee on Final Sale Amount (For Vehicles Sold Below $200,000 Price Point)
    • Sales Success Fee Minimum $500
    • Sales Success Fee Maximum $5,000 on Final Sale Amounts up to $200,000
    • Ex 1: Listing Sale Price = $3,000 | Sales Success Fee = $500 (Minimum Sales Success Fee)
    • Ex 2: Listing Sale Price = $50,000 | Sales Success Fee = $2,500 (5% Sales Success Fee)
    • Ex 3: Listing Sale Price = $100,000 | Sales Success Fee = $5,000 (5% Sales Success Fee)
    • Ex 4: Listing Sale Price = $200,000 | Sales Success Fee = $5,000 (Maximum Sales Success Fee)
  • 2.5% Sales Success fee on Final Sale Amount (For Vehicles Sold Above $200,000 Price Point)
    • Ex 1: Listing Sale Price = $225,000 | Sales Success Fee = $5,625 (2.5% Sales Success Fee)
    • Ex 2: Listing Sale Price = $300,000 | Sales Success Fee = $7,500 (2.5% Sales Success Fee)

– Non-Vehicle Sales (Equipment and/or Items, Ex: Engines, Parts, Memorabilia, Bicycles, Watches, Clothing, Shoes, Etc.)

  • 10% Sales Success Fee on Final Sale Amount (For Non-Vehicles Sold Below $100,000 Price Point)
    • Sales Success Fee Minimum $50
    • Sales Success Fee Maximum $5,000 on Final Sale Amounts up to $100,000
    • Ex 1: Listing Sale Price = $300 | Sales Success Fee = $50 (Minimum Sales Success Fee)
    • Ex 2: Listing Sale Price = $25,000 | Sales Success Fee = $2,500 (10% Sales Success Fee)
    • Ex 3: Listing Sale Price = $50,000 | Sales Success Fee = $5,000 (10% Sales Success Fee)
    • Ex 4: Listing Sale Price = $100,000 | Sales Success Fee = $5,000 (Maximum Sales Success Fee)
  • 5% Sales Success fee on Final Sale Amount (For Non-Vehicles Sold Above $100,000 Price Point)
    • Ex 1: Listing Sale Price = $112,500 | Sales Success Fee = $5,625 (5% Sales Success Fee)
    • Ex 2: Listing Sale Price = $150,000 | Sales Success Fee = $7,500 (5% Sales Success Fee)

– Each time a Bid is placed, a hold will be placed on your credit card equal to the amount of the Buyer’s Premium (if any), if you do not win the Listing, the hold is immediately released in full

  • Example: Placing a bid of  $25,000 on a Listing, results in a credit card hold of $1,250 (5% of the Bid amount if Seller selected Buyer’s Premium for Sales Success Fee Option)

– All Bids placed are Final

  • During the process of submitting a Bid, the Platform asks “Confirm you want to place a Bid of $X,XXX? (Buyer’s Premium equals $XXX)” and gives the option to press “OK” or “Cancel” to help prevent user error

– There are NO REFUNDS of Buyer’s Premium (if any paid by Buyer)

  • Exception 1: In the event that within Seven (7) days (or other agreed upon time-frame, as agreed between Buyer and Seller) of notification to Buyer of Winning Bidder status, Buyer and/or Seller obtain a PPI (Pre-Purchase Inspection Report) and PPI exposes major issues with the Listing preventing Buyer from completing the transaction:
    • Exclusive will return to Buyer an amount equal to any Buyer’s Premium (as defined herein) paid by Buyer minus any fees or administrative charges incurred by Exclusive to produce said refund
  • Exception 2: In the event that Seller fails to make a purchased Listing available for transfer to Buyer within 72 hours (or other agreed upon time-frame, as agreed between Buyer and Seller) of Buyers payment in full of the purchased Listing:
    • Exclusive will return to Buyer an amount equal to any Buyer’s Premium (as defined herein) paid by Buyer
    • Seller will be liable to Exclusive for any amount refunded to Buyer and any fees or administrative charges incurred by Exclusive to produce said refund
    • Seller will not be entitled to the return of any fee(s) paid by Seller on account of the sale
    • Seller will be charged the entire Sales Success Fee regardless of Sales Success Fee Option selected
    • Said amounts will be charged to the Seller’s Payment Account (charging the Seller credit card on file)

– Communication Management (All Communication between Bidders & Sellers is Monitored & Managed through the Exclusive Auctions Platform)

  • Bidder may submit questions to Seller through the Exclusive Auctions Platform
  • Seller has 72 Hours to respond to Bidder questions
  • Bidder may submit Offers to Seller for Listings in Buy Now / Make Offer status through the Exclusive Auctions Platform
  • Seller has 72 Hours to:
    • Accept Bidder Offer
    • Counter Bidder Offer
    • Decline Bidder Offer

– Reserve Auction Will show an Opening Bid Amount (minimum of $100) set by the Seller and as agreed and assigned by Seller and Exclusive (Listing will only sell if Highest Bid amount meets or exceeds set Reserve Price)

– No-Reserve Auction will show an Opening Bid Amount of $0 with a minimum Bid Box Bid of $100 (Listing will sell to highest Bidder regardless of Bid amount)

– Buy Now / Make Offer Will show Buy Now Price (Listing will sell to the first Bidder that pays the Buy Now Price)

  • Bidders may buy the Listing immediately at the Buy Now Price by utilizing the Buy Now button
  • Bidders may Make an Offer to Seller lower than the Buy Now Price by utilizing the Make Offer button and Seller may accept such Offer at Seller discretion
  • Make Offer Bids may be in any amount as determined by Bidder

– Hybrid Auction (Reserve Auction + Buy Now / Make Offer) Will show an Opening Bid Amount and Buy Now Price (Listing will sell if Highest Bid amount meets or exceeds set Reserve Price or to the first Bidder that pays the Buy Now Price or Seller may accept Bidder’s Make Offer Price)

  • Bidders may Bid on the Hybrid Auction during the Auction Period
  • Bidders may buy the Listing immediately at the Buy Now Price
  • Bidders may Make an Offer to Seller lower than the Buy Now Price by utilizing the Make Offer button and Seller may accept such Offer at Seller discretion
  • Make Offer Bids may be in any amount as determined by Bidder

– Two Bid type options:

  • $100 Increment Bids (Incremental Bidding in $100 Increments)
    • Bids will only be accepted in whole dollar amounts
    • The Platform automatically adjusts the next Bid shown in the Bid Box to be $100 dollars more than the previous Bid
      • Example: Current Bid = $15,100 – Bid Box will show $15,200 as the next Bid Amount to Bid
    • The Platform does not allow you to adjust a Bid in the Bid Box, as it is automatically set to $100 more than the previous Bid
    • You will be notified by the Platform and by email and/or text if you are Out-Bid
  • Proxy Bids (Automatic Bidding up to Max Bid Amount set by Bidder)
    • Exclusive’s Proxy Bid System makes Bidding convenient so you don’t have to keep coming back to Re-Bid every time someone Out-Bids you
    • To place a Proxy Bid, enter the maximum amount  you are willing to pay in the Proxy Bid Box
    • Proxy Bids DO need to be in whole dollar amounts but DO NOT need to necessarily be in multiples of $100
      • Example: Proxy Bid of $25,488 is acceptable
    • The Seller and other Bidders do not know your Maximum Bid amount
    • The Exclusive Proxy Bid System places Bids on your behalf, bidding in $100 increments more than the Current Bid up to the maximum Proxy Bid amount you set
    • The Exclusive Proxy Bid System will only Bid the minimum amount necessary to make sure you remain the High Bidder, up to the maximum amount you set
    • When a Proxy Bid is placed that is equal to or greater than the Reserve amount set by the Seller, the Current Bid will immediately jump to the Reserve amount
    • You will be notified by the Platform and by email and/or text if you are Out-Bid
  • Proxy Bid Examples:
    • Example 1: ONE PROXY BID PLACED HIGHER THAN SELLER’S RESERVE
      • Reserve = $50,000
      • Current Bid = $48,000
      • Your Proxy Bid = $50,500
      • New Current Bid = $50,000 (Platform places your Bid to meet Reserve)
      • If no other Bids are placed before Auction ends, you Win the Listing for $50,000
    • Example 2: OTHER BIDDER(S) CONTINUE TO PARTICIPATE AFTER RESERVE IS MET
      • As in the above example your Proxy Bid is $50,500
      • Current Bid = $50,000 (Platform placed for you as in previous example)
      • Next Current Bid = $50,100 (placed by Other Bidder)
      • Next Current Bid = $50,200 (Platform placed on your behalf)
      • Next Current Bid = $50,300 (placed by Other Bidder)
      • Next Current Bid = $50,400 (Platform Placed on your behalf) then
      • Next Bid Box Bid will be set at $50,600 (Platform internally holds your maximum Proxy Bid of $50,500 so any other Bids will need to be $100 greater than $50,500 hence Bid Box Bid shows $50,600)
      • If the Auction ends at this point, you will win the listing for $50,400
    • Examples 3: TWO BIDDERS PLACE PROXY BIDS
      • Seller Reserve = $32,000
      • Bidder 1 Proxy Bid = $24,000
      • Bidder 2 Proxy Bid = $25,678
      • Current Bid = $25,678 (Platform jumps to the highest of the Proxy Bids)
      • Next Bid Box Bid = $25,778 and Bidder 1 will get an email and/or text stating “You have been Out-Bid”

– The Platform will only accept one Bid or Offer at a time on each individual Listing

  • If multiple Bidders are attempting to place Bids or Offers on the same Listing at the same time, the Platform will accept the first Bid or Offer received for that Listing and issue a message to the other Bidder(s) that another Bidder is currently placing a Bid or Offer on the Listing
  • The specific Listing page will automatically refresh, approximately every 15 seconds, so that all Bidders know the current status of the Listing

– Sniping Protection extends the Auction clock by two minutes each time a Bid is placed in the Auction’s final moments

  • The Auction isn’t over until two full minutes have elapsed since the highest Bid was placed

– Winning Bidder will be notified by email and/or text in order to complete the transaction

– Winning Bidder will be notified by email and/or text in order to complete the transaction

– Buyer’s Premium (if Seller selected Buyer’s Premium or Split Fees for Sales Success Fee Option) will be charged to the credit card on file of Winning Bidder immediately at the close of the Auction or accepted Offer by Seller

  • Example: If you place a winning Bid of $30,000 on a Listing, a charge of $1,500 (5% of the winning Bid amount if Seller selected Buyer’s Premium for Sales Success Fee Option) will be placed on the credit card on file
  • Any credit holds for Buyer’s Premium will be released at this time for Bidders who were Out-Bid

– If Buyer desires a PPI (Pre-Purchase Inspection), Buyer will obtain PPI within Seven (7) days (or other agreed upon time-frame, as agreed between Buyer and Seller) of notification of Winning Bidder status

– Winning Bidder is responsible to pay Seller directly or fund the Listing purchase (if Exclusive Escrow Services are utilized) in full within Seven (7) days (or other agreed upon time-frame, as agreed between Buyer, Seller and Exclusive) of notification of Winning Bidder status

– If Exclusive Escrow Services are utilized:

  • Exclusive will email winning Bidder payment instructions
  • Buyer’s Listing Purchase Funds will be held in a Secure Bank Trust Account controlled by Exclusive
  • Purchase Funds will not be released to Seller until:
    • PPI (if requested and not yet provided) is complete and approved by Buyer
    • Seller provides proof of all required Listing ownership documentation (i.e. vehicle title, MSO, etc.)
    • Seller provides proof of payoff if Listing is currently financed
    • If Exclusive DMV / Title/ Registration Services are utilized, all pre-purchase DMV / Titling / Registration requirements are complete
    • Listing Purchase Funds will be released to Seller prior to Seller releasing Listing to Buyer or Buyer’s Transport Agent

– Communication Management (All Communication between Bidders & Sellers is Monitored & Managed through the Exclusive Auctions Platform)

– Facilitation Services are offered by Exclusive to help facilitate and complete a smooth Sale/Purchase transaction between Buyer and Seller

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