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.
If it looks too good to be true, chances are it is, and there’s a simple reason why. While bodywork is expensive, it pales in comparison to the kind of profit a car will turn if a high-bidding buyer doesn’t notice it. A thorough pre-bid inspection should hopefully illuminate any issues prior to putting down your money. For more info on what shoddy bodywork can hide, don’t forget to read our write-up on nine ways you can tell if a car has been in a wreck.
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."
Auto Auction Mall is your #1 source for purchasing used cars at wholesale prices. We provide exclusive access to dealer-only car auctions, helping over 200,000 buyers find incredible deals on used cars through our online marketplace every single month. Our unrivaled concierge service helps you navigate dealer inventory and save thousands on your desired vehicle, with financing available to US buyers and shipping available worldwide.
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Several years later, liquidators and wholesale merchants reached out to us interested in utilizing our online auction services and platform as a way to liquidate their goods. As one of our goals is to provide great deals to our shoppers we started allowing a few, hand-selected and Trusted ShopKeepers to sell on our site. Now we have even more quality goods from store close-outs or overstock products up for auction.
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.
CHECK OUT ALL OF THE FANTASTIC EQUIPMENT IN OUR Au Bon Pain Cafe and Bakery & Da Vinci's Italian Restaurant Equipment Auction Which Features an Oliver Electric Convection Oven, Schaerer Espresso Machine, Oliver Bread Loaf Slicer, 2 2013 Merrychef Rapid Cook Ovens, 2013 Taylor Ice Cream Machine, Stoelting Ice Cream Machine, 2017 PrepPal 20 Quart Mixer, Gas Flat Top Griddle, Hobart Horizontal   [ View Full Listing ]
General Disclaimer: Get Rich Slowly is an independent website managed by J.D. Roth, who is not a trained financial expert. His knowledge comes from the school of hard knocks. He does his best to provide accurate, useful info, but makes no guarantee that all readers will achieve the same level of success. If you have questions, consult a trained professional.
Boulder, Colo., police started using PropertyRoom.com in 2007, mainly to unload property that couldn't be traced back to the owners. Before items are put up for auction, they are posted on the police department’s Web site for four weeks. Previously, the department had been stuck holding onto items for up to three years, said spokeswoman Sarah Huntley.
Interest in these auctions has boomed as the economy stays stagnated and credit rules have tightened. Buyers who formerly could qualify for auto loans on new or solid used cars now find they need to shop with cash. But the United States is a country built around the automobile, and it's a lot easier to get a job if you have a car to drive to the interview, so for many people car auctions are a way to fill the need.
Identify contractors authorized to hold government auctions. You can obtain auction listings directly from contractors authorized by many government agencies to carry out public auctions. For example, one of the largest online public auction contractors for Federal, state and local government agencies is Bid4Assets, which auctions off surplus property, seized and tax-forfeited assets.
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.
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.

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.
Do the homework, sometimes even ‘bad’ car can be a great deal at an auction. I recently bought a minivan that was listed as having a blown transmission. A little research discovered this is a common problem for that make and year. At the preview, I had my mechanic (whom I trust) on speed dial and got an estimate on the spot to replace the transmission with a new, 5-year warrentied rebuilt one. The bids on the van were low (who’d buy a vehicle with a bad transmission?), and even with the purchase price, the cost of the new transmission and towing to my mechanic, it still came in way below KBB value. And I know it has a worry-free transmission for the next 5 years. So don’t let even a ‘problem’ car scare you off if you’re willing to do the homework and hassle of getting it fixed.

PLEASE READ THESE TERMS OF SALE CAREFULLY, AS THEY HAVE BEEN RECENTLY UPDATED.  THIS IS AN INTERNET-ONLY AUCTION!  AUCTION CLOSING DATE: Thursday, March 14th at 1:07pm  Bidding closes on the first item at 1:07pm, then closes at the rate discussed in these Terms and Conditions of Sale.  INSPECT: Tuesday, March 12th 8am to 4pm REMOVAL:   [ View Full Listing ]
It is strongly recommended that you attend the open houses/inspections that are scheduled prior to sale. The bidder is invited, urged, and cautioned to inspect the property prior to submitting a bid. Failure to inspect property shall not constitute cause for cancellation of sale. Property will be available for inspection only at the times specified.  At their own expense, potential bidders may have property inspectors examine the property during regularly scheduled open houses.
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.
Over 600 lots of fresh to market antiques, collectibles, fine art, furniture, decorative arts, Asian, much more!!!! Follow the end of the Rainbow to William Bunch Auctions for your pot of gold filled with Sports items, clocks, fishing rods & reels, Waterford stemware, large variety of table lamps, jewelry, watches, stained glass panels, old photographs, books, modern & antique toys,   [ View Full Listing ]
First, read the property information and Terms of Sale on the website for the specific property you are interested in.  Attend a scheduled open house.  Register to bid at the auction location the day of sale during the registration period.  You must bring a valid government issued photo ID and the required cashier’s check deposit to register.  A bidder number will be issued upon completion of registration.  Click here to view the bidder registration form. This form can be printed out and completed prior to the auction. You do not need to mail or fax the completed form, just bring it to the auction to register. Forms will also be available at the auction. You should read and understand the Terms of Sale before you bid. Sales personnel at the auction site can answer any questions you may have.
Sitting on the couch, craft beer in hand, we salivate over the parade of shining classic cars rolling across the auction block at Barrett-Jackson, changing hands for ungodly globs of cold, hard cash. It’s places like this where you can pick up cars like custom built Singer Porsches, old-school hot rods, vintage Ferraris, and soon to be released, serial #001 supercars, and as the drinks get stronger, so too does the bidding.
Visit websites of government agencies that hold public auctions. At the federal level, you can find auctions online or listings for live auctions held across the country by visiting the GovSales.gov website. GovSales.gov has consolidated listings of assets for sale across the federal government. A variety of state and local government agencies also hold public surplus property auctions. Links to many local government auction sites are listed at USA.gov, under Shopping.
If it looks too good to be true, chances are it is, and there’s a simple reason why. While bodywork is expensive, it pales in comparison to the kind of profit a car will turn if a high-bidding buyer doesn’t notice it. A thorough pre-bid inspection should hopefully illuminate any issues prior to putting down your money. For more info on what shoddy bodywork can hide, don’t forget to read our write-up on nine ways you can tell if a car has been in a wreck.
"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?'
The Auction Catalog has been prepared as a guide, and should be used as a guide only. Although the descriptions are believed to be correct its accuracy cannot be guaranteed or warranted. The Bidder acknowledges that all auction items are available for inspection prior to the auction and it is the Bidders responsibility to have inspected the item before bidding. No sale shall be invalidated; nor shall auctioneers be liable as a result of defects or inaccuracies of any lot.
Regardless of their mileage or whether they’re running properly or not, most vehicles at auctions tend to get labeled “as is” in order to prevent any headaches for the auction house down the line. So don’t go in expecting warranties or the ability to sue someone for selling you a total piece of crap. Auctions are like gambling in a lot of ways, and the only way to win is to pay to play.
High-end classic car auctions like the Barrett-Jackson events are common on cable channels with three-digit numbers, such as Speed and HD Theater. Perfect Shelby Cobras, Ferraris with long racing pedigrees, glorious Duesenbergs, exceedingly rare muscle cars and old Mercedes roadsters so gorgeous that your eyes water cross the block and sell for insane prices.
The Auction Catalog has been prepared as a guide, and should be used as a guide only. Although the descriptions are believed to be correct its accuracy cannot be guaranteed or warranted. The Bidder acknowledges that all auction items are available for inspection prior to the auction and it is the Bidders responsibility to have inspected the item before bidding. No sale shall be invalidated; nor shall auctioneers be liable as a result of defects or inaccuracies of any lot.
PLEASE READ THESE TERMS OF SALE CAREFULLY, AS THEY HAVE BEEN RECENTLY UPDATED.  THIS IS AN INTERNET-ONLY AUCTION!  AUCTION CLOSING DATE: Monday, March 18th at 11:07 am  Bidding closes on the first item at 11:07 am, then closes at the rate discussed in these Terms and Conditions of Sale.  INSPECT: Friday, March 15th 10am to 4pm REMOVAL:   [ View Full Listing ]
Several different federal agencies hold government auctions. The General Services Administration is the granddaddy of them all, because it sells on behalf of other departments. When a federal agency no longer needs something — say, a pickup truck — it reports the truck to GSA, which first offers it to other federal agencies and then to state and local governments or nonprofits. If nobody claims the truck, then the GSA auctions it off to the public, and you get your chance at it. 
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.
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Any dispute arising as to any bidding shall be settled by Auctioneer at his sole discretion, and Auctioneer may put the lot in dispute up for sale again. Auctioneer reserves the right to refuse any bid, which it considers to be an insignificant advance over the preceding bid. No person shall bid on any lot of which he is the Consignor, agent, associate, or on behalf of the Consignor.

Removal of all items shall be the sole responsibility of the purchaser. Loading assistance is provided as a courtesy; however, purchaser assumes all risk and responsibility for loading and removal of purchases. Auctioneer reserves the right to require proof of adequate insurance coverage from any purchaser items requiring dismantling, rigging or hot cutting. Purchaser agrees to indemnify and save harmless both, consignor and Auctioneer, its officers, directors, employees, agents, and attorneys against any damage caused by the acts of purchaser. All items must be removed from the auction facility within 2 days after the auction date. If for any reason purchaser fails to remove any purchase within the time specified, the purchase shall be deemed abandoned, and Auctioneer at its sole discretion may resell the items. Purchaser shall be liable for any rent incurred or damages suffered by Auctioneer because of purchaser’s failure to remove any item. Failure to remove items will result in a rental / storage fee of not less than $25 per item per day.
CWS Asset Management and Sales (CWSAMS) is a nationwide company with expertise in the management, marketing and sales of a wide range of assets, specializing in web-based and live auctions. CWSAMS has provided continuous support to the U.S. Department of the Treasury, its legacy agencies, and other public & private entities for the marketing and sale of real and personal property for the past 26 years. An abbreviated list of clients are:
If you're looking for a good deal, you'll find it at online auction websites. Cars, jewelry, clothing, books, homes, and land are all available at bargain prices at these bidding sites with their amazing variety and choice. Collectors — from Star Wars to Disney — will also appreciate these websites, because frequenting them is a great way to increase your collection without breaking the bank.

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