GoBid

What GoBid does

GoBid (Pty) Ltd is a privately held South African online vehicle auction company, founded in 2021 and headquartered in Bloemfontein with operations spanning 18 branches across 7 provinces. The company operates a digital marketplace that intermediates the sale of accident-damaged, salvage, repossessed, fleet, used, and commercial vehicles through two primary auction formats — Live (real-time lot-by-lot bidding on a single day) and Timed (multi-day bidding with auto-extension) — accessible via a self-serve website (www.gobid.co.za) and native iOS and Android applications.

The platform's underlying technology stack includes user account/registration flows, a deposit and refund mechanism (R5,000), automated bidding up to a buyer-set maximum, 48-hour pre-bidding, a reserve-price progress bar, vehicle search and email subscription alerts, and a direct integration with the South African RTMC NaTIS government vehicle-registration system for online submission of the Notice of Change of Ownership. The company also offers a dedicated taxi vertical and a Direct Vehicle Purchase service that issues immediate cash offers for sellers, with optional collection within 20 km of any branch.

GoBid's revenue is generated almost entirely on a transaction-fee basis: a 5% Buyer's Premium on the winning bid, a fixed R2,900 Document Handling Fee per vehicle, a fixed R310 Admin Fee per transaction, plus 15% VAT on the combined fee stack, with additional margin on vehicles bought directly from sellers. The customer base is two-sided: enterprise supply (financial institutions, insurance providers, fleet operators, rental and logistics companies disposing of repossessed, fleet, accident-damaged, and end-of-life vehicles) is managed through a dedicated business-development team, while demand is fulfilled through verified private buyers, dealerships, and specialist repairers/parts suppliers who self-register online. In December 2025, WeBuyCars acquired a 49% stake in GoBid for R376.8 million with an embedded option for full ownership.

Name

GoBid

Legal name

GoBid

Website

https://gobid.co.za

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

51–100 employees

Short description

GoBid is a South African digital vehicle auction platform that sells accident-damaged, repossessed, fleet, and used cars via live and timed online auctions, serving financial institutions, insurers, fleets, dealerships, and private buyers through 18 branches nationwide.

Ownership category

akta.pro rank

Product category

Online Vehicle Auction Services

NAICS

Wholesale Trade Agents and Brokers (42512)

akta.pro primary industry

Wholesale Vehicle Auctions (Physical & Online) (TLABAKAA)

akta.pro secondary industries

Salvage, Total Loss & Insurance Auction Services (TLABAKAH), Dealer-to-Dealer (B2B) Vehicle Remarketing Networks (TLABAKAB)

Keywords

• Online vehicle auctions
• Salvage car auctions
• Repossessed vehicle sales
• Fleet remarketing services
• Accident damaged cars

Headquarters

HQ city

Bloemfontein

HQ country

South Africa

HQ region

Africa

Offices18 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Buyer's Premium: GoBid charges a 5% Buyer's Premium on the winning bid amount, added to the final invoice as a non-refundable fee.
2. Document Handling Fee: A fixed R2,900 Document Handling Fee is charged per vehicle sold, covering change of ownership processing and administrative documentation.
3. Admin Fee: A fixed R310 Admin Fee is charged per transaction on all purchases.
4. VAT on Fees: 15% VAT is applied to the total of all fees (Buyer's Premium + Document Handling Fee + Admin Fee).
5. Vehicle Purchase (Direct Sale): GoBid purchases vehicles directly from sellers (individuals and businesses) for immediate cash payment, then resells through its auction platform.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

GoBid operates a digital-first online vehicle auction marketplace that sells accident-damaged, salvage, repossessed, fleet, used passenger cars, and bakkies to both corporate sellers (banks, insurers, fleet operators, dealerships) and private buyers in South Africa. The platform supports Live Auctions for real-time bidding and Timed Auctions for multi-day bidding, with native iOS and Android apps, 18 physical branches nationwide, and integrated change-of-ownership processing through the RTMC NaTIS government system. GoBid also purchases vehicles directly from sellers for immediate cash and resells them on its platform.

Product overview

GoBid is a digital vehicle auction platform operating in South Africa with two primary sales channels: Live Auctions for real-time bidding events and Timed Auctions for extended multi-day bidding. The platform also features a Coming Soon category for pre-auction vehicle viewing. For business clients, GoBid offers specialized services including Repossessed Vehicle Sales, Fleet Vehicle Disposal, Used Car Sales for Dealerships, and Accident Damaged Vehicle Sales. The GoBid Mobile Application (available on iOS and Android) extends bidding access globally. The Direct Vehicle Purchase service enables immediate cash sales for individual sellers. Additionally, GoBid Taxis provides a specialized category for taxi industry vehicles. The platform integrates change of ownership processing through the RTMC NaTIS government system.

Differentiator

Problem solved

Functional benefit

Products and services

• GoBid Auction Platform Online vehicle auction marketplace enabling buyers to purchase vehicles through Live Auctions (real-time bidding) or Timed Auctions (multi-day bidding). Supports both individual buyers and company buyers with full registration, deposit, bidding, payment, and ownership transfer functionality.
• GoBid Mobile Application Native mobile app for iOS and Android enabling users to bid on Live and Timed auctions from anywhere worldwide. Available on Apple App Store (id6475342316) and Google Play (co.za.gobid).
• Live Auctions Real-time auction format where multiple vehicles are sold as individual lots in numerical order on the same day. Available as Online Only, Branch Only, or Online + Branch (hybrid) formats.
• Timed Auctions Extended auction format where individual vehicles are available for bidding over multiple days, with automatic time extension based on bidding activity to ensure fair opportunity for bidders.
• Repossessed Vehicle Sales Service Specialized auction service for financial institutions (banks) to sell repossessed vehicles with fast turnaround, transparent bidding from verified buyers, complete reporting and audit trails, and optimized returns.
• Fleet Vehicle Disposal Service Remarketing solution for businesses looking to rotate or retire company vehicles, including efficient de-fleeting, bulk vehicle upload, nationwide coverage, compliance with company policies, and maximized resale value.
• Used Car Sales Service for Dealerships and Corporates Digital-first sales platform connecting dealerships and corporates with individual buyers and resellers to unlock residual value of used company cars and demo vehicles through online auction.
• Accident Damaged Vehicle Sales Service Specialized disposal channel for insurance providers and businesses selling accident-damaged vehicles and write-offs, connecting sellers with panel beaters, parts suppliers, and specialized repairers for competitive bidding on salvage assets.
• Direct Vehicle Purchase (Sell Your Vehicle) Service allowing individual sellers to receive immediate cash payment for their used, accident-damaged, non-runner, or financed vehicles by submitting an online form or visiting a GoBid branch. Optional vehicle collection within 20km of branches.
• GoBid Taxis Specialized auction category featuring taxi vehicles including Mercedes-Benz Sprinters, Toyota Quantum/HiAce, and Jinbei Haise, with dedicated support for taxi industry buyers.

Quantifiable outcome

• GoBid sells thousands of cars every month on behalf of South Africa's top insurers and financial institutions nationwide.
• +2 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature7 records

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Manheim (Cox Automotive): Manheim, part of Cox Automotive, operates one of the world's largest wholesale vehicle auction networks including a presence in South Africa. Comparable to GoBid at the broader wholesale auto auction category level, but with vastly greater scale, established dealer relationships, and a wider portfolio of remarketing services.
• IAA (Insurance Auto Auctions / Ritchie Bros.): IAA, owned by Ritchie Bros. Auctioneers, is a major North American salvage and insurance auto auction operator. Comparable to GoBid's insurance write-off and accident-damaged vehicle segment at the category level, though operating at vastly greater scale with more developed digital platform capabilities.

Direct peers

• C-Trade: C-Trade is a long-established South African salvage vehicle auction platform primarily serving insurance write-offs and accident-damaged vehicles. Directly comparable to GoBid's salvage/insurance auction segment with overlapping buyer networks of panel beaters and parts suppliers.
• Auto Pedigree: Auto Pedigree is one of South Africa's largest vehicle auction houses, operating weekly physical and online auctions for used, repossessed, and fleet vehicles. Directly comparable to GoBid in serving banks, insurers, fleet operators, and dealerships across South Africa with a hybrid auction model.
• COPART (Copart South Africa): Copart South Africa operates as part of the global Copart network, running online salvage and insurance vehicle auctions in SA. Directly comparable to GoBid's salvage and accident-damaged vehicle auction services, with similar digital bidding model and insurer/fleet supplier base.
• Aucor: Aucor is a South African auction house group running multiple auction verticals including vehicles. Comparable to GoBid's auction business model within the same South African market, though with broader asset class exposure beyond vehicles.

Regional players

• AutoTrader South Africa: AutoTrader South Africa is a major online vehicle listing marketplace for new and used cars. Comparable as a digital South African automotive marketplace, but primarily a classified listings platform rather than an auction model, serving dealer listings rather than fleet/insurance disposals.

Others

• WeBuyCars: WeBuyCars is South Africa's largest used-car buyer and now GoBid's 49% parent/strategic investor. Comparable as a major participant in South African vehicle remarketing, but operates a direct vehicle-purchase retail model rather than a third-party auction marketplace—making it more of an ecosystem partner than a direct competitor.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/GoBid_ZA
• LinkedInlinkedin.com/company/gobidonline

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about GoBid