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Auction info
Welcome to Five Lakes Auctions
At Five Lakes Auctions, we strive to make the auction experience seamless and straightforward for everyone—whether you’re a first-time buyer, a seasoned seller, or an experienced dealer. We welcome public, dealer, and commercial clients, offering a competitive and diverse environment for buying and selling vehicles. Our methods of sale address common roadblocks and provide unique advantages. Here’s a step-by-step guide to help you navigate our auction process with ease:
Step-by-Step Auction Guide
01
Register
Start by creating an account on our website. This will allow you to place bids, browse inventory, and track your activity. Registration is quick and simple, requiring only basic information to get started.
02
Browse Listings
Explore our current auctions by browsing through the detailed listings. Each item includes a comprehensive description and high-quality images to help you make informed decisions. You can filter searches based on categories, price ranges, and more.
03
Preview Vehicles
Unlike many online auction platforms, Five Lakes Auctions offers a unique advantage. We have a physical premises where all vehicles for sale are stored. We invite prospective buyers to visit our location to preview vehicles in person. This hands-on inspection opportunity sets us apart, allowing you to see and assess the vehicles before placing your bids. Additionally, we provide detailed condition reports, which are uploaded to our site. These reports, along with integration with Carfax, Black Book, and past auction data, assist in pricing analysis and help you make well-informed decisions.
04
Participate in Auctions
Join live auctions and watch as bids come in. To place a bid, you will need to input a credit card, which will be charged 10% of the highest bid amount, up to a maximum of $2,000. This amount can then be applied to the total owing or refunded once the purchase has been paid in full. Our bidding system is designed to be user-friendly and intuitive, allowing you to easily manage your bids and track the auction’s progress. Our real-time auction system keeps you updated with the latest activity, ensuring you never miss a moment.
05
Winning an Auction
Once the auction timer has expired, the vehicle will be sold to the highest bidder if the reserve price has been met. If the reserve price has not been met, the top bidder will be contacted by our sales team and given the option to negotiate.
06
Post-Sale Services
Once the auction has been won, the buyer will be offered the option to complete a post-sale inspection at a cost of $149. A list of what this inspection entails can be found in our Buyers Guide. If the inspection passes, payment will become due. Alternatively, should the buyer choose to forego the inspection, the regular payment schedule applies.
07
Payment
Once the high bid has been accepted and the post-sale inspection (if applicable) is completed, you will be sent a bill of sale via email. Payment is due within 48 hours after your bid has been accepted. Acceptable payment methods are bank draft, debit, EFT, cash, and credit card. A premium of 3% will be added to payments made by credit card. Late payments will incur a $75 per day charge.
08
Documentation
Save time! We handle all licensing, including the transfer of ownership and, if needed, obtaining license plates, temporary plates, and mover’s permits.
09
Delivery & Collection
After payment is confirmed and documentation is completed, coordinate with us for item delivery or pickup.
10
Support & Assistance
Our dedicated support team is available to assist with any questions or issues you may have. Whether you need help with bidding, selling, or navigating our site, we’re here to ensure a smooth experience.
01
Register
Start by creating an account on our website. This will allow you to place bids, browse inventory, and track your activity. Registration is quick and simple, requiring only basic information to get started.
02
Browse Listings
Explore our current auctions by browsing through the detailed listings. Each item includes a comprehensive description and high-quality images to help you make informed decisions. You can filter searches based on categories, price ranges, and more.
03
Preview Vehicles
Unlike many online auction platforms, Five Lakes Auctions offers a unique advantage. We have a physical premises where all vehicles for sale are stored. We invite prospective buyers to visit our location to preview vehicles in person. This hands-on inspection opportunity sets us apart, allowing you to see and assess the vehicles before placing your bids. Additionally, we provide detailed condition reports, which are uploaded to our site. These reports, along with integration with Carfax, Black Book, and past auction data, assist in pricing analysis and help you make well-informed decisions.
04
Participate in Auctions
Join live auctions and watch as bids come in. To place a bid, you will need to input a credit card, which will be charged 10% of the highest bid amount, up to a maximum of $2,000. This amount can then be applied to the total owing or refunded once the purchase has been paid in full. Our bidding system is designed to be user-friendly and intuitive, allowing you to easily manage your bids and track the auction’s progress. Our real-time auction system keeps you updated with the latest activity, ensuring you never miss a moment.
05
Winning an Auction
Once the auction timer has expired, the vehicle will be sold to the highest bidder if the reserve price has been met. If the reserve price has not been met, the top bidder will be contacted by our sales team and given the option to negotiate.
06
Post-Sale Services
Once the auction has been won, the buyer will be offered the option to complete a post-sale inspection at a cost of $149. A list of what this inspection entails can be found in our Buyers Guide. If the inspection passes, payment will become due. Alternatively, should the buyer choose to forego the inspection, the regular payment schedule applies.
07
Payment
Once the high bid has been accepted and the post-sale inspection (if applicable) is completed, you will be sent a bill of sale via email. Payment is due within 48 hours after your bid has been accepted. Acceptable payment methods are bank draft, debit, EFT, cash, and credit card. A premium of 3% will be added to payments made by credit card. Late payments will incur a $75 per day charge.
08
Documentation
Save time! We handle all licensing, including the transfer of ownership and, if needed, obtaining license plates, temporary plates, and mover’s permits.
09
Delivery & Collection
After payment is confirmed and documentation is completed, coordinate with us for item delivery or pickup.
10
Support & Assistance
Our dedicated support team is available to assist with any questions or issues you may have. Whether you need help with bidding, selling, or navigating our site, we’re here to ensure a smooth experience.
At Five Lakes Auctions, we’re committed to providing a seamless and enjoyable auction experience. Our user-friendly platform and dedicated team are here to support you every step of the way. Please view our Buyer and Seller Guides below for more details on auction fees and processes.
At Five Lakes Auctions, our mission is to provide a straightforward and reliable auction experience. We focus on connecting buyers and sellers through a transparent, efficient process, ensuring trust and quality in every transaction.