Frequently Asked Questions
SELLERS or LISTERS
Some additional information to assist in the selling of your pride and joy
You can submit a vehicle at any time for free. Simply click on the Submit a Vehicle button and fill out the required fields and we will review your submission and get back to you within a couple of business days.
We like to choose vehicles that are of the classic, unique, rare or exotic breed. Other aspects that would also influence the decision to list might include the rarity, popularity, condition, and requested reserve price of the vehicle.
If your vehicle is accepting to list, there is a one time fee of $99 to list your car on Throttle Trader. This listing fee is waived for the remainder of 2020!
Once the listing fee is paid, you will be sent a final submission form that requires more in depth information than your initial submission. Fill out the form and upload as an image of all the required photos form the shot list. A Throttle Trader representative will be assigned to you and will write the vehicle listing and design the overall listing page. We cannot start the process until we receive all the information after which there will be approximately 2 weeks to review and finalise the submission. We will also monitor your auction, answer any questions and be in contact throughout the entire process.
You know you car better than anyone else so we would like you to take the photos of your car. We have an extensive shot list located on our resources page. The more pictures that are submitted of your vehicle the more transparency for the buyer and hopefully better results.
You will upload your photos directly form your device to the final submission listing form. Please be aware that This may take some time depending on the speed of your internet.
A reserve price is the minimum price that a vehicle will sell for. Throttle Trader will discuss reserve expectations with the seller and set a price accordingly for a successful auction. Sellers that are unrealistic with the reserve price might void vehicles from listing. Reserve prices are not shown on the listing as we do not want to have any bidding games but once reserve has hit then this will be published on the page.
An auction typically lasts 2 weeks
There is no way to edit your initial submission once live, however you will have the opportunity to add more information and photos after the initial correspondence. You can also share information and details through the Comments section where prospective buyers will reach out to you.
Yes, you can lower your reserve at any time. Just contact [email protected] and we can assist in this matter
No, once an auction is live it cannot be cancelled
The transaction for a successful vehicle auction is between winning bidder and seller. At the close of an auction, the winning bidder and seller will receive each other’s information via email through a Throttle Trader representative. The buyer and seller will then sort out best method of payment, which is probably bank transfer.
No we do not relist cars if they are not successful in selling. We hope that putting you in contact with the highest bidder a mutual price can be agreed upon for the sale.
BIDDERS or BUYERS
Some additional information to help you through your purchase journey
You can register to bid by filling clicking on the BID NOW button. This will then ask to log in or create an account. Once logged in Stripe Payments form will appear that will ask you for your credit card details. You will then need to return to the auction page and start bidding on the vehicle.
Once an auction is live you enter in the amount you would like to bid. If the auction is still live and this bid/amount is higher than other bids you become the high bidder for the auction. The bidding is entered in real time and updated accordingly, with the minimum bidding increments being $100. However you can bid as high as you like at any time throughout the duration of the auction.
No it does not cost anything to place a bid. However, if you are the winning bidder at close of the auction the buyers fee of 5% will be debited form your registered credit card.
The winning bidder will pay a buyers fee of 5% of the overall winning auction price. However, this buyers fee is capped at $5,000; meaning the most you will ever have to pay on your purchase if $5,000, even if you buy something for in excess of $100,000. There is also a minimum buyers fee of $299 applicable.
Winning Auction Bid is $30,000: Buyer premium is $30,000 x 5% = $1,500 Winning Auction Bid is $150,000: Instead of buyer paying $150,000 x 5% the buyer premium is capped at $5,000. The buyer therefore saves $2,500 in fees. Winning Auction Bid is less than $6,000: Buyer minimum fee applies of $299
We will clearly state whether an auction has a reserve price or not on the listing. However, if there is a reserve we will not display what the reserve price as we feel that this will deliver a better result for all parties involved and eliminate any bidding games around the price.
Throttle Trader uses specific anti-sniping software so that bidders cannot get outbid in the very last seconds of the auction. We feel that the right of reply is essential, so during the last 30 seconds of all Throttle Trader auctions, the countdown clock will reset to 1 minute after every bid. This will keep happening until no more bids are placed during those final 30 seconds and everyone except the eventual winner has tapped out. This gives everyone a chance to place their bids and gives sellers a chance to sell to the highest bidder.
You can contact the seller through the Private Message tab, which is located on the Vehicle auction product page. Throttle Trader will then make sure that your questions are answered in a timely manner.
You can certainly inspect or test drive the vehicle before the auction. Contact the seller through Throttle Trader and we can organise this meeting
No we do not cancel any bids on the site
At the close of the auction, the 5% buyer’s fee is direct debited from the winning buyer’s registered card. The final transaction for the winning bid amount is between the buyer and the seller. At the close of auction, the winning bidder and seller will receive each other’s contact information via email. We recommend that the seller send the buyer a photocopy of the title and a bill of sale prior to the buyer sending payment, and we recommend a bank transfer or B Pay.
If the reserve is not met then we put the highest bidder and the seller in contact to try and sort through an reasonable price. Throttle Trader is not involved in this process and it is up to the individual parties to try and work out a deal.
Shipping is not handled by Throttle Trader and must be taken care by the winning bidder. You can find some Transport company suggestions on our Resources Page.
Subscribe to Throttle Trader in the footer, where you will receive weekly communications about upcoming auctions. If you like the look of a specific auction you can then also add specific auctions to “Your Watchlist” which will appear in you account details
Yes you can bid anywhere as long as you have a valid credit card