G-Mart Corporation Sdn. Bhd. has launched the PRIME AUCTION located at G-Mart Kg. Melayu Subang auction centre. The PRIME AUCTION is a new auction segment designed for the trading of used vehicles that are from non-traditional sources.
Traditionally the majority of the vehicles that are auctioned originate from financial institutions, these are often repossessed or surrendered units. The PRIME AUCTION is focused on cars that are roadworthy with complete documentation.
During its launch last week, a dozen cars were put up for bidding. These were mainly privately owned cars that were traded-in for new vehicles and some were pre-owned corporate fleet vehicles. The PRIME AUCTION allows sellers to place their vehicles for bidding at zero cost.
The said vehicle has to undergo an inspection prior to the auction and the seller has to set a reserved pricing before the vehicle is included in the consequent auction, held weekly. The owner of the vehicle may choose to leave the car on display at the designated covered hall or continue to keep it in their possession.
The vehicle is then auctioned separately and bidders may place their bids to win the vehicle. This highest bid above the reserved price is declared as the ‘PROVISIONAL BIDDER’. This provisional status applies to the vehicle owner is allowed 24hours to decide if he or she would like to accept the final price. The bidder also has the opportunity to ‘walk-away’ from the deal should the car be below satisfactory as opposed to the inspection review. The PROVISIONAL SALE status offers the flexibility to both the seller and buyer.
G-Mart Corporation also offers complete services including PUSPAKOM inspection, JPJ transfer and other banking transactions. This new service is targeted at offering a hassle-free and safe method for vehicle owners to sell their cars. The PRIME AUCTION is scheduled to be held every Thursday at G-Mart Kg. Subang prior to the regular auctions which starts at 2.30pm.
Register online at auction.g-mart.my to view listings and to bid online.