We are thrilled to introduce the latest enhancement to Europe's biggest racing marketplace network: Racemarket Auctions.
Designed to provide a dynamic and transparent way to buy and sell premium racing equipment, our new auction platform brings competitive bidding directly to our community.
What are Racemarket Auctions?
An auction on Racemarket is a competitive bidding process where buyers submit offers for a curated listing within a defined timeframe. It is built to help determine the true market price of exceptional race cars, ensuring fair opportunities for buyers and optimal reach for sellers.
How Do They Work?
The auction process is seamless and designed to ensure maximum transparency for both the buyer and seller:
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Browse & Bid: Explore our active auction listings and place your bids on vehicles that catch your eye. Bids represent an expression of intent to purchase.
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Proxy Bidding: To make participating effortless, we offer a proxy (automatic) bidding system. Simply enter the maximum amount you are willing to pay, and our system will automatically place bids on your behalf in predefined increments to keep you in the lead.
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Auction Ends: When the auction timer expires, the highest bid represents the leading offer. Note that bids are not legally binding until a mutual final agreement is reached.
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Seller Contact & Agreement: The seller will directly contact the highest bidder to confirm details and reach a final agreement, ensuring both parties are perfectly aligned.
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Secure Payment & Completion: Once agreed upon, the transaction is completed directly between the buyer and seller, typically using a secure service like Escrow.com, and collection or delivery is arranged.
Who Can Use Them and How to Sell?
Any enthusiast or racing team looking to sell a race car can apply to feature their vehicle in an auction.
Whether your car is already listed on Racemarket or brand new to the platform, here is how you can initiate the process:
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Contact our team at [email protected] with basic details about the vehicle you wish to list.
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Our team will follow up to request comprehensive documentation, including full vehicle history, current condition, and high-quality photo and video materials.
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We work collaboratively with you to curate and prepare the listing, ensuring maximum accuracy and a premium presentation before setting the live timeline.
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Sell with confidence: The auction fee is only invoiced upon the successful completion of the sale. Fees are structured competitively based on the final price: 4% up to €50,000; 3% between €50,000 and €100,000; and 2% for sales above €100,000. If the auction is unsuccessful, no fee is charged, and the vehicle can be resubmitted.
Experience the thrill of the bid and the efficiency of a curated marketplace. Head over to our platform today to explore current listings, or contact our sales team to feature your race car in our next exclusive auction event!
Further details can be found on FAQ page. Terms and conditions apply.