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.
The valuation card is useful for sharing the result with friends, but also when several people are involved in the decision to sell a car.
Not every car can be valued automatically
An automated Valuation Check works best when sufficient relevant comparison data is available.
For popular models that are regularly listed and sold, the algorithm can generally produce a useful indication. This becomes more difficult for cars that are exceptionally rare, unique or heavily modified.
Examples include cars of which only a handful were produced worldwide, rare classics with few recent transactions, fully restored vehicles for which the quality of the work is decisive and heavily modified performance cars. A unique provenance or historical significance can also be difficult to translate automatically into a monetary value.
When insufficient reliable data points are available, the Valuation Check may decide not to provide an automated valuation.
We would rather provide no result than show a figure that cannot be properly supported.
The car can still be submitted to Octane. Our team will then review the information personally and discuss the potential value and reserve price directly with the seller.
Not an official appraisal
The Octane Valuation Check provides a market indication and is not an official appraisal report.
Details that are difficult to assess automatically can have a substantial effect on value. These include the quality of a restoration, provenance and ownership history, originality, matching numbers, maintenance documentation, accident history, rare factory options and the car’s technical and cosmetic condition.
For modified vehicles, it is not only the nature of the modifications that matters, but also the standard to which they were completed and the person or company responsible for the work.
Personal assessment therefore remains important. The Valuation Check gives you a well-supported initial indication. When you decide to auction the car through Octane, we subsequently review the car, its documentation and the current market conditions before establishing the final reserve.
The Valuation Check is currently in beta
The Octane Valuation Check is currently in its beta phase.
This means that the tool is already available to use, but that we will continue developing the algorithm and the underlying models. As more cars are submitted and more market data becomes available, we will be able to refine the valuations further.
Localisation will be an important part of this development. The value of the same car can differ considerably across Europe. A model that is popular and relatively expensive in the Netherlands may have a different market value in Germany, Belgium, France or Italy.
Taxes, registration costs, local preferences, availability and import regulations all play a role. We are therefore working towards tailoring the Valuation Check more accurately to the country in which the car is being offered, local asking prices and transaction results, and the differences between private and professional markets.
The current result should therefore be viewed as an initial, data-supported market indication rather than a definitive answer that applies equally to every European market.
User feedback helps us improve the tool. If you notice an incorrect trim, missing information or a result that you believe does not reflect the market, please let us know.
Why we built it
The Valuation Check reflects how we believe a car auction should work.
A seller should not be persuaded by an unrealistically high valuation simply to secure the consignment. At the same time, a car should not deliberately be undervalued merely to force a quick sale.
We want to give sellers a more honest picture of what comparable cars are doing, which reserve may be realistic, how an auction compares with selling to a dealer and which factors may influence the final result.
That means an auction starts with market information rather than guesswork.
Try the Valuation Check for free
The Octane Valuation Check is free and built directly into the vehicle submission process.
Enter your car’s details as completely as possible and include a clear description. Within one to two minutes, our algorithm will analyse the available market data.
When sufficient comparable information is available, you will receive a market indication, recommended reserve and additional insights.
There is no obligation to proceed afterwards. You can review the result at your own pace and decide whether you would like to auction the car through Octane.