How will my auction attract serious bidders?
Your auctions are promoted by towlot.com on the internet and by your company(using your web site,
email, and snail mail with flyers that can be printed from the towlot.com site). Towlot.com customer service works with
you to get your vehicles posted in your towlot.com showroom and on free classified services such as Craig’s List, which
has proven to be effective in drawing serious bidders.
How much will it cost
The seller account membership fee is $19.95 a year. Plus a flat fee of $30 for each vehicle posted
in your auction. Example: an auction of 50 cars; you pay $1500.
What is the first step after I sign up?
a) Delegate someone to take the vehicles photos with a simple digital camera: allow for five photos, about 1
minute per vehicle
b) Delegate someone in your office to upload the photos and vehicle data onto the towlot.com system; once vehicles
are separated it can take as little as one minute to take several photos of one vehicle. A 50 car auction will only take about an hour
to properly take photos, and another two or three hours to upload photos and data onto the system.
When should I post my vehicles?
The first thing you do when posting an auction on our system is setting the dates of the showroom
and the auction. It’s best to allow one week of showroom access before the auction date. Schedules are posted on the site
so that you are aware of other auctions in your area when scheduling your auction.
How many photos should I take?
Post at least five photos of each vehicle to get the best results. Reduce number of visitors to
your physical lot, and eliminate phone calls by posting photos showing all sides to the vehicle and inside the vehicle.
Thoroughness in photo documentation will attract the most bidders online.
What info should
I place when posting a vehicle?
Towlot.com makes it easy for you. Most line items are multiple choice with a click of the mouse.
The system directs you on the information to include. There are ten line items.
What do I do if
the person who won the bid doesn't pay?
Historically this is not an issue. The bidder signs onto an agreement that includes a penalty of
$250 against the winning bidders credit card if the vehicle is not purchased. The system also makes it easy for the
seller to contact the next bidder down or to move an unclaimed vehicle to the next auction.
How will using TowLot.Com
benefit my company?
Internet auto auctions generate more revenue per vehicle than any other method of vehicle disposal,
as well as expanding your buyers market. Buyers come from all over the United States as well as Canada & Mexico.
Selling online can draw thousands of potential buyers at your auction. Auctions also bring towing revenue, as a
significant percentage of vehicles need to be transported to the buyer.
What about my
buyers without computers or high speed internet?
Those with slow access can preview vehicles and pre bid in the showroom. Serious bidders will find
access to high speed internet with friend or relative for the lightning round auction.
I own two different tow
companies do I have to sign up twice?
Yes, you need to register each location. By registering each location it will cut down on any buyer
confusion of where your sale is being held.
What if the car is picked up before the auction?
Some tow companies pass the $30 non-refundable fee onto the customer as an additional expense.
The towlot.com system has an option to easily delete a vehicle from the sale. When that item is deleted, an email will
be sent to the current high bidder (if there is one) explaining to them the vehicle was removed from the sale. The buyer's
terms states that vehicles can be pulled from the sale at any time for any reason.
What if I want to add a
car to my auction?
Once you have gone through the (finish and pay) transaction you can no longer add vehicles. You can
however edit any of your posting at any time before the vehicle sells.
When is my payment due?
You must pay by credit card when posting vehicles. After you have paid, your auction showroom
will appear on the date and time you set for pre-bidding to begin.
How can I tell who won the car?
You are able to print a sales report with winning bidders info and total amounts. Buyers are
emailed a printable receipt that we suggest they take to the tow lot when they pay for the vehicles.
Am I the first tow lot in the area?
You can view the list of upcoming auctions. If there is no one in your area, you now have the
perfect opportunity to get ahead of your competition.
A buyer from another state purchased one of my vehicles, how should I handle this?
You should allow these buyers extra time for payment and pick up of vehicles. You can specify
overnight checks or immediate payment by credit card. They will often need to hire a transporter or your own
How do I get top dollar for my vehicles?
Have keys for each vehicle that appear to be in good condition. Show accurate written and photographic
documentation. Include the good, the bad, and the ugly, which promotes the seller’s integrity while giving the bidders
confidence in what he sees. Remove trash, wash vehicles, and separate them for full pictures.
Can I sell a vehicle other than my impounded vehicles?
You can sell any vehicle you want - for a friend, family, employee, business acquaintance, etc...
Once auction buyers see how well your auctions are going, you will be approached to sell vehicles for them. Extra money
can be made by selling vehicles on consignment if you choose to do so.
How much time should I allow the winning bidder to pay?
We suggest payments be made in full within 72 hours of the end of the sale. You can post your
terms and conditions as you please.
Should I let potential buyers view vehicles in person?
We encourage all tow companies to allow anywhere from 3 to 7 days prior to your lightning round
auction for in person viewing. Allowing customers the opportunity to see vehicles in person is only going to increase
your auction profits. By doing this you will build a relationship with buyers who may become repeat customers or tout
your auctions to friends.
Is there a limit to the number of cars I can place in my auction?
500 postings is the max. We suggest keeping auctions to between 50 and 150 vehicles and holding
these auctions more frequently rather than larger auctions less frequently.
How long does it take to create an auction?
Once you have the photos to upload, figure on three or more minutes per vehicle to create an
auction on Towlot.com. Towlot.com is a very user-friendly website, and we have made it very simple to create an
auction. For your first few auctions, we recommend allowing yourself plenty of time to enter information and pictures
before your showroom opens. Once familiar with the process your time in creating an auction will be reduced.
What percentage of vehicles are sold on towlot.com auctions?
Towlot.com sellers consistently sell 95–100% of their vehicles placed in auction.
What is the average price of sale of vehicles sold through towlot.com?
Currently, the average price of vehicles sold falls between $500 and $750, depending on the seller.
A history of auction sales is available at the towlot.com site.
How does the lightening round bidding process basically work?
Bidding starts at the prescribed time at the price you have chosen or the highest pre-bid. Bidders
are able to watch the bidding in real time and easily enter the bidding process. Upping the bid is as simple as a click of
the mouse. With any pause in the bidding a ten second clock is activated until bidding resumes, or, when the clock runs
out, the highest bidder is “sold” the vehicle.
Are there videos that explain everything?
A sellers video and a buyers video can be activated from the towlot.com site. These videos
demonstrate the ease of how the system works for both seller and buyer.