"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?'
"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.
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.
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I returned home wishing I had never gone to this auction, because as someone trying to get over his junky-vehicle hoarding tendencies, I’m not strong enough to handle this kind of temptation. Sure, many of these cars were junk, but they were dirt cheap. And since most were impounded for some sort of driving infraction, there’s a decent chance they move under their own power.
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.
Auction for seized items carried out by the government are presented with huge discounts. There are several ways to accomplish your plan of purchasing an item through auction. Initially, you can check auction agenda at newspapers, online listings, ads, and associates. To know more, before you decide you can be present at the seized auction in order to familiarize yourself with the essentialness and dealings. As recommended, that it is not important to take part the bidding at once, following your primary auction presence. Learn the procedure first, observe what other purchaser do and don't be uncertain to inquire if you want to learn, you should point it out and ask everything you want to gain knowledge.
You will be required to bring all of your paperwork (Bill of Sale/Receipt and Dealers License, if needed), Identification, and gate fee of $30 to your assigned pickup date and time. Important note: If you are sending someone else to pick up your vehicle (including a shipping company), you must call Corona’s Auto Parts and Towing to inform them of who will be picking up the vehicle, and you must send a notarized letter of authorization that the individual picking up the vehicle must have with him/her upon pickup.
If you're looking for live auctions, AuctionZip is the place to go. These live auctions are events that users can view right within their web browser, and they can bid for items online at the same time as bidders on the auction floor. With live bidding, users can access auctions around the world and get in on all the action without any software to download or special tools to buy. The website lists auctions that are live or are upcoming soon. After you register to bid, you go straight to the auction, where you watch what is happening and bid in real time if you see something you like.
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