Bidding Process and Rules

• Reserve Price: Each car auction has a set reserve price. Bidders cannot place a bid below this price.

• Starting a Bid: A potential buyer can start bidding at the reserve price.

• Bidding Increments:

  • If another buyer places a higher bid, bidders can increase their bid amount.
  • The minimum bid increment is MMK 100,000 per bid.
  • Bidders cannot place a bid that is less than MMK 100,000 above the current highest bid.

• Winning the Auction: The highest valid bid at the auction's closing time wins the auction.