Setting the right reserve price is one of the most difficult parts of auctioning a car.
Set it too high and there is a risk that the bidding will not reach it. Set it too low and it can feel as though you are taking too much risk. In practice, valuations are therefore often based on asking prices, gut feeling or a comparable car someone once saw online.
We did not think that was good enough.
That is why we built the Octane Valuation Check: our own valuation tool, designed to give you a better understanding of your car’s position in the market within one to two minutes.
How does the Octane Valuation Check work?
When you submit a car, our proprietary algorithm analyses the information you provide. The tool compares it with indexed auction results, available transaction data and current used-car listings.
We consider factors such as the make and model, trim and engine variant, year of manufacture, mileage, country of registration, options and specifications, as well as the stated condition, maintenance history and other relevant details.
Based on this information, the Valuation Check calculates an expected market value, a recommended reserve-price range and an indicative comparison with the price a dealer may be willing to pay. For Dutch-registered cars, it may also provide an indication of the remaining BPM tax.
The result is saved in your dashboard, so you can review it again later.
The more accurate the information, the better the result
The Valuation Check can only work with the information you provide. It is therefore important to enter your car’s details as completely and accurately as possible.
Select the correct trim, enter the actual mileage and mention relevant options, maintenance, damage, modifications and other noteworthy details. A clear description also helps.
Two cars of the same model and year can differ considerably in value. A completely original example with a comprehensive maintenance history cannot be compared directly with a modified car that has little or no documentation. The same applies to rare factory options, recently completed maintenance or a known accident history.
A description such as “fully maintained, complete history available and recently serviced” gives our tool more useful context than simply stating that the “car is in good condition.”
The more relevant information you provide, the better the algorithm can determine which cars are genuinely comparable. The Valuation Check remains an automated estimate, but accurate input makes the result considerably more useful.
An indication of market value
The market valuation shows approximately where your car sits in relation to comparable examples.
It is not a fixed amount for which the car is guaranteed to sell. The final result will also depend on the presentation, the level of interest at the time, the chosen reserve and the bidders taking part.
The Valuation Check is primarily intended to provide a well-supported starting point. This is more useful than simply looking at the highest asking price listed online. An asking price mainly shows what a seller hopes to receive, while a completed auction result shows what a buyer was actually prepared to pay.
Our algorithm combines different types of market information to produce a more realistic indication.
What is a suitable reserve price?
The reserve price is the minimum amount for which your car may be sold during the auction. It is not visible to bidders and will generally be below the expected market value.
A reserve that is too high can result in serious bidding without the car ultimately being sold. That is not only disappointing for the seller; time and marketing budget will also have been invested in an auction that does not result in a transaction.
When the highest bid remains below the reserve, the highest bidder is not obliged to purchase the car afterwards. We may try to bring the seller and bidder together after the auction, but the bidder may reconsider the offer, purchase another car or decide not to proceed at all.
For this reason, the Valuation Check calculates a recommended reserve-price range alongside the market indication. This range is designed to give the seller sufficient protection without unnecessarily reducing the likelihood of a successful sale.
You can apply the recommended reserve to your submission with a single click. Before the auction goes live, we review the car and always agree the final reserve with you personally.
Market value is not the same as a dealer purchase price
The Valuation Check also provides an indicative comparison with the price a dealer might offer.
A dealer will generally be unable to pay the car’s full expected retail value. The business must account for its margin, warranty obligations, possible repairs, preparation and presentation, financing costs and the risk that the car may remain unsold for an extended period.
A dealer offer will therefore usually be lower than the amount a car could potentially achieve through a direct sale to a private buyer.
At an auction, the market bids directly on the car. However, the final result is not guaranteed there either. It depends on factors including the level of interest, the presentation, the reserve price and the bidders active at that time.
The comparison is mainly intended to clarify the different options available to you as a seller: selling quickly and directly to a dealer, advertising the car yourself or allowing the market to bid through an auction.
Share your valuation
After completing the Valuation Check, you can also create a shareable valuation card.
It displays your car, registration number and estimated value in a visual format that can easily be shared through Instagram, WhatsApp or other channels.
You can choose from several backgrounds or use your own photograph of the car. The card is available in both a standard post format and a vertical story format.