Auction Rules

1. Auction Eligibility

Only KYC-verified buyers and dealers may participate in auctions. Each participant must have an active CarFriend account in good standing with no pending dues or disputes.

2. Auction Start & Duration

Auctions go live once the inspection report has been reviewed and approved by a CarFriend admin. Each auction has a defined duration set at the time of launch. The timer is displayed on the vehicle listing in real time.

3. Bidding Rules

• All bids are final and binding once placed.
• You cannot retract a bid once submitted.
• Bids must meet or exceed the current highest bid plus the minimum increment (₹1,000).
• The reserve price, if set, is not displayed. An auction may not result in a sale if the reserve is not met.
• CarFriend staff and their family members may not bid on any auction.

4. Winning Bid

The highest bid at auction close is the winning bid. The winning bidder will be notified immediately via SMS, email, and in-app notification. The winning bidder has 4 hours to confirm acceptance, after which the next bidder may be offered the vehicle.

5. Payment Timeline

Full payment must be received within 24 hours of auction close. Payment instructions will be shared via email and in-app. Failure to pay within the deadline results in forfeiture of the bid and may result in account suspension.

6. Inspection Report Reliance

All participants acknowledge that they have reviewed the Inspection Report before bidding. CarFriend makes no additional warranty beyond what is stated in the report. Post-auction disputes related to vehicle condition that were captured in the report will not be entertained.

7. Auction Cancellation

CarFriend reserves the right to cancel an auction in cases of suspected fraud, title disputes, or technical errors. In such cases, all bids are voided and no transaction takes place.

8. Anti-Shill Bidding

Shill bidding (bidding on your own listing or coordinating with another bidder to inflate price) is strictly prohibited and grounds for immediate permanent ban and potential legal action.

9. Disputes

Auction disputes must be raised within 2 hours of auction close. Refer to our Grievance Redressal Policy for the resolution process.