The ins and outs

Q: What is TopBids?

TopBids is a Canadian-owned online automotive auction platform, developed for all your wholesale re-marketing and buying needs. You can buy and sell vehicles any time using your mobile device or desktop computer.

Q: Why did you launch your virtual auction platform?

With over 35 years of experience in the automotive industry, we knew we could deliver a more efficient, responsive and profitable way of buying and selling vehicles at the wholesale level.

Q: Does TopBids operate across Canada?

Yes, we're a national auction platform. Our cross-country reach enhances your opportunity for swift sales and purchases.

Q: What can I sell on TopBids?

We accept listings for trade-ins and used vehicles from franchise dealerships, B-dealers and brokers.

Q: What can't be sold on TopBids?

We do not list brand new vehicles.

Q: How does TopBids ensure accurate information on listings?

TopBids requires our Sellers to include a CARFAX report when creating their listings. If you do not have a CARFAX report, you can purchase one through TopBids.

Q: How do I join?

Joining our auction is simple. Go to our membership page, fill out the forms and one of our administrative team members will contact you after assessing your information.

Once we have confirmed your membership, you will be buying and selling within 48 hours.

Q: What information do I need to provide to join?

Members must provide company, banking and credit card information. We require an acknowledgement of our Terms and Conditions on all forms.

Join now

Q: How do I sign in and start using the platform?

Once you're an approved member, you'll be able to access your account and start buying and selling vehicles from your mobile device or desktop within 48 hours.

We strongly suggest giving account access to your administrators and accountants.

Q: Who's bidding?

Only TopBids-approved dealers and brokers from across Canada and the U.S.A. are allowed to participate in auctions.

We make sure you never miss an opportunity while maximizing the number of people viewing your auction by using our vehicle watch list feature. Text and/or email notifications will be sent out to you when a vehicle meets your criteria.

Q: How long do the auctions run?

You can choose how long you'd like to run your auction, anywhere from 1 hour, 24 hours or even several days if the trade-in has not yet arrived and you want to pre-sell the vehicle. To create urgency for potential Buyers, we suggest 1-hour auctions or 72-hour auctions (if you launch after 6 pm on a Friday).

You will also be able to launch your own company auction, where you can choose the day, time and duration (minimum 10 vehicles required).

You can always re-list your vehicle as many times as needed. TopBids does not charge launch, re-launch or no-sale fees. This allows you to re-launch your no-sales at any time you choose.

Q: I won a bid! How do I pay for it?

TopBids is a full EFT auction facilitated through RBC Express Platform.

If your source of funding is through AFC or NextGear, please contact them to arrange transfer of funds.

Q: Are there guidelines for Sellers?

TopBids clearly respects all aspects of the automotive industry. We follow the NAAA guidelines for all selling, buying and declaration of vehicles listed.

All approved dealers must upload a CARFAX report for each listing. If the Seller does not have a CARFAX account, they can purchase a report through TopBids.

Honesty is always the best policy. We have a dealer rating system for all of our approved Buyers and Sellers to rate their experiences with each other. Transparency and integrity without compromise is the TopBids policy.

Q: What happens if there's an issue with the listed vehicle that was not declared?

The TopBids team will provide mediation for all arbitration. Our team continuously provides member assistance, employing the best trade practices to expedite the process.

When Sellers misrepresent vehicles or provide improper documentation, this causes unneeded arbitration and slows down sales. To avoid this, we recommend providing honest and correct information about every vehicle you launch.

Q: What are my options when I buy a vehicle outside of my region?

The Seller is fully responsible for all declarations on each vehicle they list. As a Buyer, you have 7 days for arbitration under the National Auto Auction Association (NAAA) guidelines. When purchasing a vehicle from outside your region, please arrange transport once funds have been confirmed, and the vehicle has been cleared for transport.

Q: Someone sold me a vehicle and misrepresented it. What can I do? Help!

If the vehicle was misrepresented and the declarations were incorrect, you can pursue arbitration and the sale can be cancelled. Be sure to support your claim with as much documentation and evidence as possible. If the Seller has misrepresented the vehicle, the Seller will be responsible for all incurred fees including Buyer fees.

Q: How do I receive my funds/pay for my purchases?

TopBids provides a full EFT payment solution through RBC Express.

If your source of funding is through AFC or NextGear, please contact them to arrange transfer of funds.

Q: Are there multiple plans to buy and sell on TopBids?

We offer only one very cost-effective plan to maximize your profits. We want total fairness for all of our members.

What fees do I have to pay as a member?

Here are all of TopBids' fees:

• One monthly membership fee of $99/mo
• All applicable Buyer and Seller fees
• No launch, re-launch or no-sale fees, unlike many auctions

Q: What currency does TopBids use?

All prices are listed in CAD. All U.S. Buyers will be required to wire transfer funds to TopBids.