What Are Vehicle Auctions Online & Why Are They Gaining Traction?
An online vehicle auction is a digital marketplace where vehicles — from cars to commercial trucks — are listed by financial institutions, banks, leasing companies, or repossessing agencies. Potential buyers place bids, and the highest bidder typically wins in a predetermined time window. These auctions are becoming popular due to: Transparency & reach : Digital platforms allow buyers from across regions to participate rather than being limited to local physical auctions. Lower overheads : Sellers can liquidate assets faster, with fewer intermediaries. Better deals : Vehicles often sell at substantial discounts to market prices because the seller’s priority is quick disposal. In India, platforms like AUTOBSE host bank vehicle auctions where cars are offered at 40–60% below market price. autobse.com Likewise, Droom’s e‑auction offerings allow users to buy used vehicles via bidding. Droom If you’re registered properly, you can participate from anywhere in the country — no...