Grays auctions

Grays publishes a "highest bid" on every lot, but the lot only sells if the reserve is met or there is no reserve. Auction Intel tracks both signals — final sold price for confirmed sales, "referred" for lots that ended below reserve.

Grays is timed-only. Each lot has a fixed close time. If a bid arrives in the final minutes, the close time is automatically extended by a few minutes (anti-snipe) so the highest bidder still wins.

The lot ended with a reserve in place that the highest bid did not meet, so Grays "referred" the lot back to the vendor. The vendor may accept the high bid, counter, or relist — none of which means the vehicle sold at the auction price.

Grays' Australian platform mostly carries clean-title and repairable stock. Statutory write-offs do appear but are less common than on Pickles or IAAI.