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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Use the Public Car Auctions App by the Public Car Auction Network to stay on top of what new inventory has arrived at local car auctions in your state and also certain other states. Finding an auction location with your phone’s GPS has never been easier. The app can also provide you with telephone contact information so you can contact the auction with your questions. There is no registration or membership required to download and use the car auctions app. Finding a cheap used car is now a lot easier.
Ideally, go to one or two auctions just to get a feel for how the bidding goes. Usually they'll start off with a fairly high number stated by the auctioneer. Do not jump in then. In my case, nobody was putting out the first bid for a couple of minutes — which felt like hours — and the auctioneer finally asked for a starting bid. I put out $5,000 to start. In hindsight, I wish I hadn't because it seems like the first one to open their mouths always loses. But if there's no starting bid, the auctioneer will let the vehicle go without bidding since they're moving through these vehicles at a rate of about 15 per hour. I didn't want to lose this baby.
From our early days as an online police auction site, there was one piece of property & evidence that we did not touch – firearms. However, recently for many states and jurisdictions it has become a requirement, and even mandated, for law enforcement agencies to auction off their seized, forfeited and unclaimed firearms just as they do with other parts of the property and evidence room.
Remember, you aren’t allowed to drive these vehicles, but you are granted access to them prior to the auction, and getting up close can reveal all kinds of hidden maladies. Look for things like paint overspray, uneven sheet metal, compromised suspension components, undercarriage rust, and anything else that looks out of place. Interior aroma is another major thing to watch out for, so be wary of things like gasoline aromas and mildew, because even though they may dissipate eventually, there’s a strong chance they represent a much larger issue.
In economics we tend to think of auctions as a good way to get at the true price of an object. Of course, it isn’t quite perfect as there’s still problems with information asymmetries, and people can get a winner’s curse because the people who err in thinking the car is worth more than it actually is are the ones who are likely to win. On the other hand, the price can go lower if there just aren’t enough people at the auction for that to happen– you need at least two people over-valuing the object and willing to pay for it for one of them to over-pay.
When it comes to car auctions, try not to put all your eggs in one basket, because there will always be more chances to score a sweet ride on the cheap. Like gambling, it’s always good to have a limit in place before the bidding starts, because nothing sucks more than overspending on a car that only gets you halfway home before the damn transmission craps out.
As the action at public auctions has grown hotter, the cars have grown shadier. "I've personally seen cars with over 300,000 miles on their clocks rolled back to 120,000 and sold as 'Miles Exempt' meaning no guarantee of mileage," he says. "Most of the cars at a public auction are the worst trade-ins or very rough repos." And as in a government auction, you can't drive a public auction vehicle before you bid on it.
GovDeals is the official portal to government auctions, which range from land to computers to cars. The site's categories include surplus and confiscated items from various government agencies. The rules and regulations vary depending on the participating agency, and you deal directly with the agency after you are awarded your bid. The deals are great, but be sure to inquire about packaging and shipping of an item before you place your bid because most sellers do not ship, pack or palletize. You may be responsible for picking it up or paying someone to transport it.
K – Your assertions may be true for your stores, but that is not the case for the bulk of vehicles at auction. Many dealerships will send off brand trade ins to the auction (ex: Chevrolet dealer takes a Ford in on trade). Additionally dealerships will often “turn” their inventory sometime between 60-120 days. If they’ve purchased a car and it’s not moving many dealers will move it to get their cash back out of the car and put it back into another car that they might be able to retail, and make a profit on.
Although car auctions might help you in buying a dream car within your budget, it is a fact that these events are not publicized to larger extent. Experts feel that if there is an increase in the number of bidders at these auction, the final bid price will be affected. Again, dealership sale also gets affected with such flocking and it always slides down. Henceforth, you should expect that the auction information will always be hidden from the public. You should try to catch such data on websites that work as search engines for car auctions.
Another problem that you might face with local police auctions is finding information related to their occurrence. You can find the information on websites that deals particularly in government auctions. After acquiring the information of its timings, you need to call the local police department, and register your bidder number. Bids only from registered bidders are considered in these seized car auctions. It is advisable to obtain Vehicle Identification Number (VIN) prior to bidding for the car and run it through the Carfax website. It helps in checking the past history and allows you to buy a clean car.
Log onto PropertyRoom.com, a Web site which auctions stolen property that law enforcement agencies were unable to return to the rightful owner. The auction is run much like eBay, and its product mix is arguably just as eclectic. Thanks to the criminal mind, the inventory, unfortunately, is endless. Stereos, guitars, laptops, jewelry, bicycles and designer clothes are all available for a fraction of the original value.
To bid, you'll mostly need to go to an auction house on the day and bid in person. However, some auction houses now offer live internet or telephone bidding. You'll have to register to bid with the auction house, whether you're bidding in person or not. You should be able to find out when the next police auction will be held by visiting the auction house's website.
We are a premier full-service private auction company liquidating property seized by police and federal agencies, property from abandoned safe deposit boxes, seized bank assets, bankruptcies, financial institutions, business inventory liquidations, and other consignors. Our firm conducts traditional live auctions throughout the year at various locations across the country, as well as auctions on the Internet. Please see our schedule of upcoming auctions for further details.
Attending an inspection period is also a good opportunity to view the vast array of vehicles available for auction. A potential buyer can explore his options and see the starting prices of the cars. There are many choices for the public regarding models, colors, and types of cars including SUVs, coupes, sedans, trucks, and so on. An added benefit is that these auctions are held regularly and can even be found locally. The information is available both online and in local and national newspapers.
The purchaser shall pay a non-refundable deposit of 25% of the purchased price of any auction lot on the date of the auction, with the balance of the purchase price paid within 3 days following the auction. All payments must be received by cashier’s check, money order, company or personal check accompanied by an irrevocable bank letter of guarantee, or wire transfer payable to Bar None Auction. Any payment other than cash may be subject to an additional 3% administrative fee.
Wakeley Collection - Antiques & Toy Auction3/16/2019 10:00 AM Wakeley Collection - Antiques & Toy Auction - 3/16/2019 10:00 AMAntiques & Collectibles, Primitives, Jadeite Kitchen Glassware, Early Roseville Pitchers-Bowls-Juvenile, DeLaval Adv., Folk Art, Americana, Red Wing Stoneware Collection, Cabinets & Bookcases, Lighting & Mid-Century, Artwork-Oil Paintings, Old [ View Full Listing ]
Call this location @ 734/374-1861 to determine the # of units for Auction this day. This is the continuning location for 7 Auctions for ( ESS ) Extra Space Storage Inc. this day, the next Sale after Southegate is ESS @ 10:30 AM at 3500 Carpenter Rd. Ypsilanti 48197, then we proceed to ESS @11:00 AM at 1900 Old Rawsonville Rd. 48111. For more Auction information on other sales go to our web page www.tateauctioneers.com Then click on the HOME PAGE for ALL AUCTIONS LISTING...
Auction to include over 1,000 items from State and Federal agencies, abandoned safe deposit boxes, unredeemed pledged assets from various Financial Institutions, several business inventory liquidations, several estates and other consignors. Auction will feature collectible coins & currency, rare art, fine jewelry, luxury watches, sports memorabilia, rugs, electronics, all types of collectibles & much more! Further details coming soon!
After registering for the auction of your choice, begin to figure out a budget. Setting a budget helps relieve anxiety and stress that can come along with auto auction participation. Know your budget and stick to it no matter what the circumstance. When the budget is set, you can start to look into your finances. If you are going to need a loan, determine who or what will be your financial lender. Some auto auction firms provide pre-approved loans; if that is a route, you are comfortable taking. Banks and credit unions are other options for obtaining a car loan.
What items are available for sale - You can expect to find various items at police auctions. This could be clothing, jewelry, electronics, art work, cameras, computers, tools, watches, furniture and many other items. You can also purchase vehicles at police auctions, as well as boats and even airplanes. The seized vehicles that are used in committing crimes are placed for sale where minimum bids and reserved prices are extremely rare. This means that you would be able to get these items even if your bids are low and nobody else is bidding against you.
Find an auction that sells newer cars where the public is allowed to attend. Most auto auctions are run for dealers only, but some are open to the public. Vehicles at an auction are generally ex-rentals, off-lease, repossessions, or government vehicles. Mine was a trade-in being sold by a dealership. A quick google search for “your area or city + public + auto auction” should do the trick to find an auction in your area.
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Watch the mood and trend of the crowd in the bidding before your vehicle comes up for sale. I've noticed that at auctions there are frugal crowds and there are spendy crowds. I don't know why this is. I've seen furniture, tools, and kitchen cabinets sell for 10% of retail. But I've also seen them sell at what you'd pay for full retail in a store at the same auction house on different days. There doesn't seem to be any rhyme or reason to it. Always be prepared to walk away. There'll be another auction in a week or two.
"As our police business has grown, we've been approached by other liquidators," Bellomo said. "This downturn has put 3,000 brick-and-mortar retail stores out of business. There is distressed merchandise all over the United States. Brand-new jewelry and watches, authentic sports memorabilia, fine art. Liquidators are coming to us and saying, 'Can you work with us the way you work with police agencies. Can you turn this excess inventory into cash?'
We created a solution for law enforcement agencies nationwide. We pick-up all those seized, stolen, abandoned and surplus goods out of their Property Room, open up their public auctions nationwide and send back proceeds to the local communities. That’s also where we got our name – the Property & Evidence Room is where all these goods are stored at your local law enforcement agencies. We just shortened it to just PropertyRoom.com.