How Auction Works on My105
Placing your bid
1.
Register
Credit card required for verification and fees
2.
Due dilligence & logistics
Read carefully, contact the seller, plan for payment & delivery
3.
Place your bid
Bids are binding. Be ready to win.
During the auction
- All auctions have a reserve price, unless stated otherwise
- You'll be notified if you're outbid, and before auction closure
- Sniping protection extends the auction to allow final bids
When the auction ends
- If the reserve is met, the highest bidder has won
- Otherwise, the highest bidder gets the first right to negotiate
- If there is no deal, other participants may also get a chance
If you win
- My105 provides you and the seller with each other's contact information
- You and the seller work together to complete the sale
- In general, buyers are responsible for shipping and other costs
Buyer's premium
- For successful sales My105 charges a 5% buyer's premium on top of the final sale price (minimum of $500, maximum of $5,000)
- If My105 successfully brokers a deal after an auction passes in the full buyer's premium also applies
Got questions?
Please contact us