How it Works

Anyone that sets up a user name and password can participate on the site!  Sign up and you will be able to participate in our contests and to comment on auctions, trades and DCX contests.

The Short Cut

Auctions

Standard auctions will run for 10 days, auctions where the sellers are open to a trade-in as part/all of the value for the DreamCar being auctioned will run for 14 days.  Once the auction is open, registered bidders are able to submit bids to purchase the DreamCar.  Auctions will either be sold with no reserve (highest bidder purchases the DreamCar regardless of the price) or with a reserve (the reserve is the minimum amount the seller is willing to sell for).  For reserve auctions, DCX will agree to a reserve with the seller with the aim to be consistent with the current market conditions to minimize the number of auctions ending with a reserve not being met.

During the auction, all registered users can comment about the car, however comments must be constructive.  Bidders are welcome to make as many bids as they choose, as long as their bid is more than the current bid plus the minimum bid increment.  DCX auctions utilize the method of extending the auction if a new bid is received within the last 2 minutes.  This allows for the other bidders the time to decide on whether they would like to place another bid.  If another bid is made, then the auction clock will restart at 2:00 and begin counting down again.  This will continue until there are no more bids made within the last 2 minutes of the auction.  Once the clock hits 0:00, the auction is complete.  If it is a no-reserve auction or if the reserve was met, we will provide contact information to the buyer and seller for them to commence the transaction.

Trading DreamCars

Some enthusiasts would rather trade DreamCars, rather than buy or sell.  This is particularly true for our dealer sellers, who are always looking for good inventory.  Therefore we offer the ability for sellers to sell only as a trade (plus or minus money as well) or allow the buyers to offer a trade-in as part/all of their bid of a DreamCar being auctioned.   For those auctions allowing for trades, the auction will be open for 14 days, and those that are just interested in trades, those will be listed for 21 days.

The key to this is assessing and agreeing to the value of the DreamCar being traded in.  We require those looking to trade to provide the same level of information and pictures as if they were auctioning it.  This provides the seller the same transparency as the buyer.  Sellers and potential buyers would then negotiate the value of the trade-in and if they come to agreement, we will provide contact information to the buyer and seller for them to commence the transaction (for trade-only) and for trade-ins a part of an auction, the bidders on the auction would then bid on the seller’s DreamCar to include the agreed trade-in value of their vehicle.

The Scenic Route

  • Submit your vehicle for our consideration here Auction Your DreamCar and once a reserve is agreed, you will be charged a listing fee of $95 and we will send you an email confirmation. If you choose a No Reserve auction, there is no listing fee.
  • Based on the information, pictures, videos and documentation (such as the “Bid with Confidence Inspection Report” and Carfax) provided by you, DCX will prepare a draft of your auction ad and send to you for review/approval.
  • Once you are happy with the ad, you will click “Agree to Post” and we will post it shortly thereafter!
  • During the auction, registered users can comment and those who are registered bidders can utilize our “Ask an Expert” feature.
  • DCX have aligned ourselves with certain marque experts to answer specific bidder questions about the cars being auctioned.
  • At the end of the auction if the highest bidder meets your reserve, we will provide you with their contact information at the close of the auction.
  • If the reserve is not met, we will contact the three highest bidders to ask for them to provide a best and final offer within 24 hours for you to consider. Note: DCX reserves the right to reduce the buyer fee we collect in order for the seller’s reserve to be met and the DreamCar sold.
  • You will have 24 hours from when the best and final offers are received to decide on whether to accept the highest bid. If you do, we will provide you the contact information of the buyer.
  • If you do not accept the high bid, then the DreamCar will go unsold. Note: DCX reserves the right to reduce the buyer fee we collect in order for the seller’s reserve to be met and the DreamCar sold
  • Keep in mind, that on DCX we help buyers and sellers agree to a price for their DreamCar. The transfer of funds, title and vehicle occurs off-line, between the buyer and seller.
  • If you see a DreamCar that you are interested in bidding in, simply click the “Bid” button and enter your bid. If you are not a registered bidder, we will need to collect your payment information for the DreamCarXchange fees if you are the winning bidder, therefore we will redirect you to enter this information. Once you have provided this payment information, you can now submit your bid.
  • During the auction, you are able to utilize our “Ask an Expert” feature. This is a courtesy service that DCX provides to bidders. If you as a registered bidder have a question, simply click the “Ask an Expert” button and ask your question. Our expert for that make DreamCar will be notified of the question and answer it (typically within 24 hours). The question and answer will be posted in the “Ask an Expert” tab. Note that DCX is limiting the number of questions to one (1) per DreamCar and that we do not have experts for all marques. If we do not have one for the marque of a specific DreamCar, the “Ask an Expert” button will not be present.
  • The price you bid is what you are willing to pay the seller for the DreamCar. If you are the highest bidder and your bid is above the reserve (on auctions that have a reserve), you will then be put in contact with the seller to conduct the transaction for the vehicle. At this point, you will be billed for the buyer’s fee.
  • The buyer’s fee is a % of the winning bid, and is the fee paid to DCX and is in addition to the bid price you will pay the seller. We believe in rewarding those that frequent our site, therefore the buyer fee % for each auction varies depending on the particular seller’s status:
  • Pony Car: 5.00%
  • Prancing Horse: 4.497%
  • Raging Bull: 3.909%
  • All No Reserve auctions will have a buyer fee of 3.00%, regardless of the seller status
  • A Seller’s status is based on the number of cars they list on DCX throughout the year and can be found in the “Key Specifications” on the auction page. The more cars they list, the lower the buyer’s fee is!
  • The buyer fee will max out on bids of $100,000. Any bids above $100,000 will have the same buyer fee as a $100k bid. This really lowers the total cost of high value vehicles!
  • If the highest bid does not meet the reserve, the top three bidders will be asked to provide a best and final offer within 24 hours of the auction close. Note: DCX reserves the right to reduce the buyer fee we collect in order for the seller’s reserve to be met and the DreamCar sold
  • The seller then will review the offers and decide if they want to accept the highest bid. If they accept your best and final bid, we will charge you with the buyer’s fee and provide you with the seller’s information (and vice-versa).
  • If your best and final bid is not accepted, you will be notified that the DreamCar was not sold. Note: DCX reserves the right to reduce the buyer fee we collect in order for the seller’s reserve to be met and the DreamCar sold
  • Keep in mind, that on DCX we help buyers and sellers agree to a price for their DreamCar. The transfer of funds, title and vehicle occur off-line, between the buyer and seller.
  • Auctions in which Sellers are open to trade-ins as part/all of the bid will be listed for 14 days to allow more time to assess the value of potential trade-in.
  • If a buyer is interested in providing a trade as part of the bid, they would select the “Trade In” button and provides DCX information, pictures, videos etc. and DCX will craft a high-level ad for the buyer and send it privately to the seller. Note, part of this information provided by the buyer is an estimated value of the trade-in.
  • If the seller responds positively to the trade-in and would like more information and to engage further with the potential buyer, DCX will collect additional information from the potential buyer and DCX will construct the more detailed ad (similar to seller’s ad) for the seller’s private consideration. NOTE: This additional information needs to be provided to DCX no later than 7 days prior to the auction end. The potential buyer will then be billed $95 for the detailed ad. The potential buyer has the option to then have DCX list this in the ”Wanna Trade?” section at no additional cost.
  • The seller and buyer then will negotiate the trade-in value privately via the DCX site.
  • If the buyer and seller arrive at an agreed value for the trade-in value prior to the deadline of 24 hours before the auction closes, and this buyer is the winning bidder, the trade-in value agreed between the buyer and seller will be applied to the purchase price.
  • If you can not come to agreement on the trade-in value, then you are still able to bid on the car without the trade-in.

For those looking to trade only, we have an offering for you as well! Here, your car is not being auctioned, but is posted in a separate “Wanna Trade?” section for a period of 21 days.

  • The set-up for the seller is identical to those selling via an Auction, where the seller provides information, pictures videos, DCX prepares a draft ad, and the seller approves before it is listed.
  • Once the seller approves, the same $95 listing fee will be billed to the seller
  • If a buyer is interested in a trade, they would select the “Trade In” button and provides DCX information, pictures, videos etc. and DCX will craft a high-level ad for the buyer and send it privately to the seller. Note, part of this information provided by the buyer is an estimated value of the trade-in.
  • If the seller responds positively to the trade-in and would like more information and to engage further with the potential buyer, DCX will collect additional information from the potential buyer and DCX will construct the more detailed ad (similar to seller’s ad) for the seller’s private consideration. NOTE: This additional information needs to be provided to DCX no later than 7 days prior to the auction end. The potential buyer will then be billed $95 for the detailed ad. The potential buyer has the option to then have DCX list this as a seller on the “Wanna Trade?” section at no additional cost.
  • The seller and buyer then will negotiate the trade values privately via the DCX site.
  • If the buyer and the seller arrive at an agreed terms for the trade, the seller and buyer each press the “Trade My Dream Car” button. The buyer will be billed the buyer’s fee, based on the average of the seller’s and buyer’s estimated values of their DreamCars.
  • If the buyer and seller can not come to agreement on the trade, the buyer can use the same ad to respond to other DreamCar trades for up to 3 months.
  • Note: If a seller has a current listing on “Wanna Trade?” and sees another listing they are interested in, we will use the existing listing to present to the seller whose car they are interested in, no additional ad fee will be charged.