Winning an auction is an exciting moment, but the process doesn’t end when the hammer falls. The post-auction process securing your purchase and arranging the pickup—is just as important. Acting quickly and following the rules is key to making sure your winning bid becomes a new vehicle in your driveway.
For many buyers, especially those using digital platforms, the journey starts right on their phone. If you are using an application like the Mi Auto Auctions App, you will receive an immediate notification and electronic invoice. This guide will walk you through the necessary steps in simple terms, so you can easily complete your transaction.
📝 Step 1: Check the Rules and Receive Your Invoice
The very first thing to do after winning is to look at the Auction’s Terms and Conditions one more time. Every auction house has its own set of rules, especially around payment.
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Review Deadlines: Check the exact due date for your payment. Most auctions demand payment very quickly, often within 24 to 72 hours. Missing this deadline can lead to losing your deposit or paying extra fees.
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Check for Extra Fees: Your final price is not just the winning bid. Be ready to pay a Buyer’s Premium (an extra fee for the auction house) and possible administrative, title, or sales tax fees. The invoice you receive, often immediately through your online account or app, will show the full and final amount you owe.
💰 Step 2: Make Your Payment
Securing your bid means paying the full amount on time. Payment methods can vary, so check your invoice instructions carefully.
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Common Payment Types: Most auction houses accept wire transfers (bank transfer) for large amounts, or possibly credit/debit cards, though credit card payments often have a limit or a small fee.
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Pay the Full Amount: You usually cannot pay in parts. The total amount, including your bid and all fees, must be paid at once.
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Get Confirmation: Once you pay, the auction house will send you a Paid Receipt and an official Notice of Award or Bill of Sale. Keep these documents safe! You will need them to pick up the vehicle and to register it later.
📄 Step 3: Complete the Paperwork
Before you can drive or transport your vehicle, you need the legal paperwork. The auction house is responsible for giving you these crucial documents.
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Bill of Sale: This is the legal document proving the car is now yours.
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Vehicle Title: This is the document that shows who legally owns the car. Depending on the state or country, getting the physical title mailed to you can take a few weeks. The auction house will usually process the title transfer for you.
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Memorandum of Sale: This official sales agreement will list the vehicle details, the final price, and the terms you agreed to. You may need to sign this digitally or in person.
Make sure all the information on these documents—like the Vehicle Identification Number (VIN) and your name—is correct before you leave the auction location or finalize the process.
🚚 Step 4: Arrange for Pickup or Shipping
Once payment is confirmed, you must get the vehicle off the auction property by a set deadline. This is called the Pickup Deadline. If you miss it, you will likely have to pay daily Storage Fees.
Option A: In-Person Pickup
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Schedule a Time: Contact the auction facility to confirm the best time to pick up your vehicle. Auction yards have specific opening hours.
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Bring the Right Gear: Vehicles bought at auction are often sold “as seen” and may not be ready to drive.
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Tow or Transport: You might need to bring a tow truck or a trailer, especially if the car is a salvage vehicle, non-running, or doesn’t have a temporary permit yet. You usually cannot drive an unregistered auction car on public roads.
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Required Documents: You must bring your Photo ID, the Paid Receipt, and the Notice of Award to prove the vehicle is yours before they release it.
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Option B: Shipping
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Organize Transport: If you cannot pick it up, you need to hire an auto transport company. Many auction houses can recommend companies, but you can also find your own.
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Open vs. Enclosed: You will choose between Open Transport (cheaper, exposed to weather) and Enclosed Transport (more expensive, better protection, good for high-value cars).
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Pre-Arrange: It is best to contact the transport company before the auction closes so they are ready to move quickly once you win and pay.
🔎 Step 5: Final Inspection at Pickup
Before you drive away or the transport truck leaves, do a quick, final inspection of the vehicle.
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Check Condition: Look for any new damage (dents or scratches) that might have happened after the auction.
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Verify Vehicle: Make sure the VIN on the vehicle matches the VIN on your paperwork.
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Report Issues: If you find a new problem that was not there before the sale, tell the auction staff or the transport driver immediately and write it down on any transfer papers (like the Bill of Lading for transport). Once you take the car, it is your full responsibility.
By being prepared with your payment and transport plan, you can easily move from being the highest bidder to the new owner, securing your purchase with speed and confidence.
