What to Do After Winning an Auction

Participating in a car auction at Astra Group’s auction house, Balai Lelang Serasi (IBID) is such an easy yet enjoyable experience. If you are declared the winner of an auction, the following steps are to complete the transaction and pay the entire amount of the final sale price.

The transaction can be completed with ease as well. Even better, you can do it online through IBID’s website: www.ibid.astra.co.id or the app available on Google Play or Apple App Store.

See also: Advantages of Buying a Company Pre-Owned Used Car at an Auction

Here is how:

1. Tap on “Transactions” under the “Account” tab. Choose the vehicle you want to finalize the transaction for and download the Auction Winner Confirmation (KPL) document. Alternatively, you can obtain the KPL through an email that is normally provided to you as soon as you are declared the auction’s winner (remember that every auction participant is always asked for an email beforehand).

2. Next, wire the funds according to the amount stated in the KPL to the designated virtual account (VA).

3. You should complete the transaction within five business days of the auction. Failure to do so is considered a breach of duty. Your right to purchase the auctioned item is revoked, and your deposit will be forfeited.

4. After finalizing the transaction, you can pick up your car right away at a specified IBID branch. Proof of payment and a KPL are all you need to pick it up.If you cannot make it there or the place is too far, you can have a shipping company send your car to you. Note that you need to contact the IBID branch where your car is located first.

See also: To Buy a Safe Auctioned Car, Choose a Trusted Auction House

After picking up the car, you will receive the car’s documents. However, if the documents are not ready yet, you can still drive the car home, and the documents will be sent to you within 3–14 business days.

IBID will notify you via SMS, email, or mail when the car’s documents are ready to be collected. Simple, right?

For your information, PT Balai Lelang Serasi (IBID) is a reputable auction house that offers you a convenient and easy way to participate in an auction. IBID offers a seamless auction experience through its online or live auction via its app, so you can bid from anywhere without having to show up in person. 

IBID holds more than 50 auctions per month in more than 30 cities across Indonesia and guarantees the safety and transparency of its auction process.

You can choose from Live Auction, Flash Auction, and Timed Auction.

See also: Auction Transaction Gets Easier with Virtual Account

With a Live Auction, participants can join from anywhere. The auctioned item will then be sent to the winning bidder’s house immediately.

It is fairly easy to join the Live Auction. Prospective participants can register themselves on the website or application of IBID by filling in their personal information, such as their name, e-mail, and password. It is even far easier for you to register yourself via Facebook, Google, Twitter, and LinkedIn.

Live Auction is a virtual version of the onsite auction, at which participants can bid flexibly while drinking coffee via the website or application of IBID which can be downloaded on Google Play. Live Auction and on-site auctions adhere to the same schedules.

There is also a Flash Auction, which is a new way to auction your car online at IBID. This short-lived auction has no set schedule. The participant can inspect a car through a live stream and participate in a live chat Q&A session before bidding on it. 

See also: Choose an Auction House Wisely amid the Rise of Online Scams

Flash Auction is great for people who need to sell their cars fast. This auction is also an excellent way to see what used cars are up for auction at IBID without having to wait for the next scheduled auction.

Timed Auction, on the other hand, is IBID’s latest innovation in online auctions. Unlike Flash Auction, which you can join from both IBID’s app and website, Timed Auction can only be joined from the app. 

Timed Auction also differs from Flash Auction in terms of duration. Typically, Timed Auction often lasts for a longer period, ranging from two to seven days, providing you with a longer window of opportunity to bid. Meanwhile, Flash Auction, as the name implies, only lasts for a shorter period. At a Flash Auction, you can buy or sell a car faster.