"There are two types of public auctions," explains Steven Lang, who runs a used car dealership in the Atlanta area and once owned a dealer auction (not open to the public). "There are government auctions and there are public auctions." Both are full of potential pitfalls. Here's a quick rundown on both and 10 tips for getting the most out of either. That is, if you dare to venture into the auction pit.
"At a government auction it's, say, a county that has 30 or 40 police cruisers it needs to get rid of. And they want to sell all of it," Lang says. "All the vehicles have known histories—how they were maintained, used and fixed, and their mileage is virtually always honest. You'll know what you're getting." Still, you don't get to drive a car before you bid on it. So you'd better have a sharp eye. Make that a sharp, trained, cynical, wary, pessimistic and rabidly suspicious eye.
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Check out this 2001 BMW X5 4.4I now up on the auctionblock. This SUV has a 4.4L engine, AWD, 8 cylinders, automatic transmission, power brakes, A/C, 78,671 miles, and much more. VIN: WBAFB33571LH13233. Forget going to your local used car dealership, the government has selection and prices you want. As of right now, the current bid for this vehicle is at $10,030 with 3 days remaining. Click here to register!
1. You're not used to the process. It may sound like an ordinary auction, but it's not. There are rules that need to be followed, plus the fact that you're practically dealing with the government. Your fear and awkwardness can definitely affect your bidding decision. To ensure that you will be able to bid properly, get yourself comfortable not only with the auction procedures but also with the people around you. They normally have practice auctions. It's ideal if you can attend at least one of them. You may also try to observe real government auctions and take note of how veterans bid for these cars.
Shopping for the perfect heavy duty pickup truck. Well look no further because this 2004 Chevrolet Silverado 2500HD will be going up for live auction this October 15th and you're invited to attend! This beastly extended cab vehicle has 4WD, a 6600 Duramax Diesel V8 Engine with an Allison 5 SPD Automatic transmission and about 100K miles. VIN: 1GCHK29124E173001 The starting bid will be $5,400 so be sure to register with us now if you'd like to learn more.
Mauka Frozen yogurt is a small town yogurt shop in Basalt, Colorado. The owner has decided to close down operations and sell assets via public online auction. This auction includes very nicely maintained equipment: (6) Taylor C723-33 Soft Serve Twin Twist Machines, True 2-Door Stainless Steel Freezer, True 3-Door Stainless Steel Refrigerator, Industrial Waffle Iron, Stainless Steel Table, Assorted pans and Disposables.
Cars at public auctions are often those that wouldn't sell at wholesale dealer auctions. Yes, some are flood vehicles, and Hurricane Irene should still be fresh in your mind. Some are cars quickly reconditioned in dealership shops to fill in slow periods when there's otherwise little work to be done. And many are just flat out junk. "A car that goes across the block at a public auction that isn't spewing smoke is often packed with thick racing oil to ensure it doesn't," Lang continues. "Everything at a public auction looks shiny, but shiny doesn't mean much about the quality of the car."
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