Once a seller lists a vehicle on SouqWheels, buyers can place bids during the auction period. The highest bid at the end of the auction wins the vehicle, provided it meets the reserve price (if applicable). The winning bidder is then connected with the seller to complete the transaction.
SouqWheels features a wide range of vehicles, including sedans, SUVs, trucks, sports cars, and luxury vehicles. We also have listings for used and certified pre-owned vehicles from private sellers and dealerships.
The bidding increment is the minimum amount by which a new bid must exceed the current highest bid. It ensures fair competition and prevents unnecessary micro-bids. The increment may vary based on the vehicle’s value and bidding activity.
Yes, sellers can set a reserve price, which is the minimum amount they are willing to accept for their vehicle. If bidding does not reach the reserve price, the vehicle will not be sold. If the reserve is met, the highest bidder wins the auction.
SouqWheels verifies seller information, conducts background checks on listed vehicles, and provides a secure platform to prevent fraudulent activity. Buyers can also view vehicle history reports and seller ratings to make informed decisions.
SouqWheels may charge a buyer’s premium or transaction fee, which will be clearly stated before placing a bid. Additional costs such as taxes, registration, or shipping may also apply depending on the location and terms of the sale.
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