MAST monitors auctions on-site or on-line. When we’re there, we can immediately negotiate unacceptable high bids with the buyer, and often come to an agreement. The buyer wants to load his truck at the end of the day, and we want to close and move inventory, so more often than not, agreements can be reached.
MAST recognizes the importance of timely resolution of bid approvals. If a minimum bid amount is not reached at auction, the high bid goes up for review, or bid approval. MAST will then review, and accept, or reject the high bid. These are decided upon by MAST in a timely manner to notify the buyer of an accepted bid, or to reject the bid letting him know his money is still available to bid on other vehicles. MAST has the option to accept the lower bid, or reject it and post it on-line for subsequent sale. If the high bid is rejected, the high bidder has the option to open negotiations by contacting MAST through the auction personnel. Many vehicle sales are negotiated post-auction in this manner.
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