What are closed “Private Sale” and open “Public Sale” auctions?
Open auctions in the so-called “public sale”, are public auctions in which every registered bidder can bid vehicles.
Closed auctions in the so-called “private sale” (for example, a car showroom) may only belong to certain buyer groups (for example, invited purchasers of a car showroom) and vehicles.
Can I participate at all auctions?
All registered customers can participate at open auctions in the Public Sale, provided they selected this at registration. Closed auctions in the Private Sale are available only for certain consumer groups (e.g. dealer-owned auctions, where you are invited and activated by the dealer).
How is a payment made?
Immediately after the end of the auction, both parties (sellers & buyers) will, if the auction was successful, receive a confirmation email with the contact details of the respective counterpart, along with a request to contact their counterpart to set up the payment method. The poster (seller) is responsible for the binding order and invoice. A high number of sellers does not accept cash payment. If you make a bank transfer, please keep in mind that the transaction time within Germany may be up to two days (foreign transfer may differ). Once the seller has received your payment, you will be sent the permit for collection with all details about the exact pickup location and opening hours. As a bidder (buyer), please always provide in your bank transfer a reference number for the purchased vehicle. You will find more information about this in the order documents/accounting records you received from the seller (poster).
Transaction fees are invoiced separately by FCM24!
When do I have to pay?
Usually, immediately after the binding order/ the vehicle invoice by the poster (supplier/seller). So please do only bid on the number of vehicles that you are effectively able to purchase.
Standard taxation – taxation of a vehicle with reportable sales tax (19%)
On FCM24, all vehicles are generally traded with net prices. The standard taxation concerns vehicles for which the sales tax was never charged from the end user (consumer in accordance with § 13 of the German Civil Code BGB). That means that the tax on the sale was always refunded by the tax authorities. Such vehicles usually come from leasing companies or car rental firms that state the sales tax as a separate component of the total price on the invoice. Buyers subject to sales tax, who buy the vehicle for a specific purpose, can then reclaim the sales tax. Buyers have the option to bid gross in the active bidding process, while sellers will only see the prices / bids net.
What is a margin scheme?
Some of the vehicles listed on FCM24 are subject to the so-called margin scheme. This enables you to have to pay tax only for the difference between the price paid for a vehicle and the selling price achieved for the vehicle (the margin). No sales tax can be charged on the purchased item and you do not have to pay any sales tax if the transaction yields no profit.
What prerequisites must be met for registration?
You are a commercial car dealer and the automobile trade must be registered as a main occupation. A registered sideline in the business registration is not a sufficient authorization. Car dealers that act as sellers can automatically register on FCM24, while car dealers that act as wholesale buyers must be invited by the seller!
What documents do I need for registration?
Please fill in the registration form first and have ready a copy of the ID card of the owner/CEO/executive board/personally liable partner as well as your excerpt from the commercial register and the business registration. The excerpt from the commercial register is needed for the following company names: GmbH, GmbH & Co. KG, KG, OHG, AG and UG (haftungsbeschränkt).
After this, you will receive a registration confirmation via email. Once the necessary documents are sent and verified, you will receive your login details, also via email.
What costs will I incur for registering?
The registration is free.
How long does the registration process take?
Our team will check your documents for completeness and correctness. This process can take up to three work days.
How can I participate at an auction?
As a successfully registered customer, you will receive an activation for the areas you selected and can then participate at auctions on the platform. For this, you will receive a password and a personal user name.
How do I find a vehicle?
By clicking on Search – here you can find “All” listed vehicles. You can further narrow the search by “Auctions, Best offer and Auto24”, and likewise make a selection by vehicle criteria (e.g. manufacturer, model, gear type, mileage).
This is where you can add interesting vehicles that match your search criteria to your individual Watch list, or to My collection. You can also track the process of the auction including all activities regarding the observed vehicle or, by unchecking the actions checkbox of the Watch list, remove the vehicle from the list. The image of the vehicle in your Watch list is identical with the structure of the search page and can be edited in real time. The View history gives you a chronological overview of the vehicles added to your Watch list. Finished auctions are displayed under the thumbnail along with the date and time. While auctions finished within the auction platform are not displayed for more than 5 minutes after they’ve ended, the vehicle added to your Watch list appears permanently in the view history. The view history represents a documentation of vehicles favoured and watched by you in the form of a list. All detail views of the Watch list are presented 1:1 analogous to the search site (see short overview of the vehicle features, auction types, statistics etc.).
Similar to My watch list, this site lists all vehicles that you’ve added to My collection. The difference to the Watch list, which merely represents a simple way of watching vehicles, is that under My collection an interactive search agent corresponding to the features of your added vehicle is at your disposal, who will continue to inform you in the future about newly listed vehicles of a similar type that correspond to your added vehicle completely or at least 85%. This search agent runs in the background as a driver assistant that provides currently matching results. You can add a vehicle to the list; vehicle specific features are then automatically saved according to the vehicle specific parameters, so that you are always informed in time when a similar vehicle has been listed. You are thus in the role of a profiler; the vehicle agent carries out the automated grid search for a vehicle, while updates/hits regarding the posted auction are appearing continually in My collection. By unchecking the actions checkbox, you can remove your saved vehicles.
This is where you can create your desired vehicle and search for it using a configurator. The difference to the Watch list, which merely represents a simple way of watching vehicles, is that under My wish list an interactive search agent corresponding to the features of your desired vehicle, such as brand, model, bodywork, fuel type, mileage, state (used/new), is at your disposal, who will continue to inform you in the future about newly listed vehicles of this type that match your search parameters completely, that is 100%. This search agent runs in the background as a driver assistant that provides currently matching results according to your desired vehicle profile, which you have created yourself by means of your choice of search parameters. The list of your desired vehicles thus is not only a collection, but a results list of vehicles corresponding to the features that you have posted as your desired vehicle profile. This desired vehicle profile is analysed automatically and produces as hits those vehicles that correspond to your prototype in accordance with the stored grid search for your own self-generated wish profiles. You can add a vehicle to the list; vehicle specific features for your desired vehicle are then automatically saved according to the vehicle specific parameters, so that you are always informed in time when a corresponding vehicle has been listed. You are thus in the role of a profiler; the vehicle agent carries out the automated grid search for a desired vehicle, while automatic updates/hits for your desired profiles regarding the posted auctions are appearing continually in the desired vehicle lists. Here you can also configure several distinct desired vehicle prototypes, so that the driver assistant is able to filter for you results from desired vehicle searches that are running in parallel, adding those as suggestions to your saved desired vehicles. In this way, you are at all times informed about matching new additions. For the creation of wish profiles, it is advisable to give to the saved desired vehicles/vehicle wish profiles titles that are as meaningful as possible regarding the vehicles you are looking for (e.g. BMW, Mini Cooper etc.). Using the action button Delete, you can remove your saved desired vehicles/vehicle wish profiles. If the list is empty, there are currently no vehicles in the portal that correspond to your desired vehicle search.
On this site, you get a full overview of your bids within a certain selectable time span (3 months, 6 months, 9 months, 12 months, 24 months). The placed bids are collected in auction groups highlighted in dark grey (Auctions, Best price, Buy-it-now, Auto24), while the auctions still running are immediately visible and highlighted in white. Using the tabs of the relevant groups, you can access the “pending”, “successful” and “lost” auctions (quick access). The number of vehicles within the auction groups is likewise displayed behind the type of auction. Next to the current price for a vehicle, your own bid is also shown and highlighted in colour (red = you have been outbid, green = you are currently the highest bidder).
Virtual deal room
Under the menu item My bids and My vehicles, you have the possibility as a buyer and as a seller to click on a balloon within the pending requests, or pending auctions, which opens a virtual deal room. In it, the seller can negotiate with the first three highest bidders (highlighted in red) one by one via live-chat. If a seller accepts the offer of the first highest bidder, no more negotiations with the other two highest bidders are possible! In the virtual negotiation room, all bids are submitted net or with a difference tax.
As a buyer, you can reserve buy-it-now offers for a certain period of time, that is, block them for other users. The duration of the reservation depends on the configuration of the vehicle in question. If you reserve a vehicle, or block it for other users, you can purchase the vehicle only for the duration of the reservation. The reservation will be shown to the other users. After the reservation time has elapsed, the vehicle is again available to all users. On the site My reservations all your reservations are shown. The maximum reservation time is 30 minutes and costs 5,00 EUR.
Is the FCM24 website safe?
The FCM24 website conforms to all web security standards. Prior to entering a bid, bidders must log in using a security password. The website and servers of FCM24 use the standard encryption protocol Secure Sockets Layer (SSL), which ensures security and data integrity for web communication.
Our security guarantee: All bids are transmitted and saved in encrypted form. Even our administrators at FCM24 have no access to these bids!
What is an online auction?
At an online auction, vehicles can be purchased exclusively online via our auction platform www.firstcarmarket24.com. When an auction is put online, bids can be placed from that point already.
Frequently asked questions
Please click on one of the topics on the left to learn more.