Buy now or bid: which is better at a car auction?

Some auction lots carry a buy now price, a fixed amount that lets you take the car before the live sale. Choosing between buy now or bid comes down to one question: is that price better than what the car is likely to sell for at auction? Here is how to decide.

How buy now works

On lots that offer it, the buy now price is set by the seller. If you accept it, the car is yours at that price and does not go to the live auction. The option usually disappears once the lot is sold or once live bidding starts, and the exact rules differ between Copart and IAAI, so check the auction's own terms or ask your broker.

Two things stay the same either way:

• auction fees still apply on top of the price, and they vary by auction and amount
• the car is sold in the condition shown, so you still need to study the photos and details

When a buy now price makes sense

Buy now can be a good choice when:

• the price is at or below the final bids of similar cars in recent months
• the car is rare, so you may not see another one like it soon
• you need certainty, for example to fill a container or meet a shipping date
• the lot has strong demand and you expect bidding to go higher

The main benefit is control: you know the price and you avoid a bidding war.

When waiting for the auction may be better

Live bidding is often the better path when:

• the buy now price is clearly above what similar cars sold for
• the model is common and there are plenty of similar lots in the catalog
• the car has heavy damage or unclear condition, which tends to keep bids low
• you are flexible on timing and happy to walk away

Keep in mind that a car you skip may sell for less, or for more. Waiting is not free of risk, it just moves the decision to sale day.

Check the buy now against past final bids

Do not judge a buy now price on its own. Compare it with real sales:

1. Open the auction prices statistics for the model and find the same generation, year and engine.
2. Note the average final bid and the range between the lowest and highest.
3. Open the lot page and look at the sale history: if this VIN sold before, you can see the bid it ended on.
4. Adjust for this car's damage, title, mileage and location.
5. Add fees, transport and repair costs to both options before you compare.

If the buy now price plus costs still leaves you a margin, it can be worth taking. If not, set your maximum bid and wait for the auction.

Find buy now lots on Bidpier

The Bidpier catalog has a buy now filter: open buy now lots and combine it with make, model, year, price or damage. Each card shows the current bid and the buy now price when there is one. You can also search any VIN to see a lot and its earlier sales before you decide.