How it Works
Wolfe’s Auto Auctions will post vehicles for sale from each
of their locations using up to 10 digital images and detailed condition
reports. The vehicles are then immediately available for Preliminary Bidding
on VB2's website and buyers from around the country can preview and bid on the
vehicle. Buyers may visit Wolfe’s Auto Auctions facilities, inspect the
vehicle and enter Preliminary Bids at kiosks located in the lobby of each
facility. To improve the effectiveness of the bidding, the VB2 system lets
buyers see the current high bid on the vehicle. Preliminary Bidding is an
open, competitive auction format. Buyers enter the maximum price they are
willing to pay for a vehicle and VB2's Bid4U (Bid for You) feature will
incrementally bid the vehicle on their behalf. If a buyer is outbid, they
receive an email notification and have an opportunity to re-bid the vehicle.
The Preliminary Bidding process is typically conducted over a three-day period
that ends one hour prior to the start of the internet-only Virtual Auction.
During the Virtual Auction, VB2's powerful web server is the auctioneer!
Buyers join the auction by logging onto VB2's website and simply click a
button to bring up an auction window. When the auction starts, digital images
of the vehicle are displayed along with the Current High Bid from the
Preliminary Bidding process. Any virtual buyer can now increase the bid on the
vehicle with a simple mouse click. Bid4U will represent the high Preliminary
Bidder during the Virtual Auction. When bidding on the vehicle finally stops,
a countdown is initiated. If nobody bids during the countdown, the vehicle
sells to the highest bidder. The process is fast, easy and
Buyers have responded to VB2 in an extremely positive manner. Buyers
appreciate the ease and flexibility built into the system. Buyers can better
manage their time and therefore their businesses when they do not have to
stand around an auction for 4-6 hours a day. With VB2, they can bid on
vehicles when it is convenient for them.