Auction Rules & Policies
Core rules for participating in CarPrice247 vehicle auctions and related marketplace activity.
Review the applicable vehicle and auction status before bidding
Bid, Buy Now and offer availability may vary according to the vehicle, auction status and configured CarPrice247 administrative rules.
Account verification
Only eligible verified CarPrice247 member/buyer accounts may place bids on vehicles when bidding is open.
Minimum bid increment
The minimum bid increment is GHS 1,000. A new bid must meet the required increment above the current valid bid.
Reserve price
The reserve price is set at 85% of the vehicle Buy Now price unless the configured vehicle or auction rule is changed by authorized CarPrice247 administration.
Auction availability
Vehicles may appear in public inventory before an auction starts. Auction date, status and bidding availability are controlled by CarPrice247 administration.
Buy Now
Buy Now may be available on eligible vehicles according to the configured business rule. Availability can depend on auction status and administrative settings.
Offers
Eligible vehicles may support buyer offers. Offer review, acceptance and rejection are subject to the configured CarPrice247 workflow and administrative controls.
Winning bids
When an auction is completed, the platform records the applicable winning bidder and provides the buyer with the required post-auction payment process.
Vehicle payments
Vehicle purchase payments are handled through bank wire or deposit to the company account. Payment status is recorded in the CarPrice247 platform.
Seller submissions
Sellers and dealers submit vehicle information for review. Sellers do not directly publish vehicles to live inventory. CarPrice247 administration controls final listings and official media.
Administrative control
CarPrice247 administration manages auction scheduling, inventory assignment, bids, winners, offer statuses, payment records and permitted exceptions.
Confirmed auction values
Additional auction rules
Additional rules such as exact Buy Now availability, offer acceptance/rejection conditions, reserve-not-met handling and auction timing exceptions will follow the final CarPrice247 administrative configuration.