There are many car auction houses in this nation and they all operate very similarly. We wanted to write this article to expose some of the secrets of how to succeed at the car auctions. There are some very successful car dealers that get great steals at the auction but how do they do it? Lets find out.
If you are trying to sell a car at the auction you will make the most money if you can get one of the first 20 numbers of an auction run. Cars naturally sell for more money at the start of an auction as people have not spent any money yet and there is excitement to see the cars. On the flip side of this, the best time to buy a car is midway through the auction and even towards the end. The reason for this is that many dealers have exhausted their allowed money limit for the day and you will much less competition bidding against you.
The biggest secret of all at the auction house is to know the history of the cars. Serious car dealers have a handheld unit that reads the vin number and gives them the value of the car and some handheld units will actually pull up a carfax on the vin. This information is priceless because not everything is disclosed when a car runs through the line. This information can help you to know if you should bid and if the current bid reflects the value of the track record. For example, salvaged titles are worth thousands less than a car with a clean title. Handheld units are very expensive but are a must have for serious car auction goers.
Another good auction tip is to attend car auctions that have a large amount of cars being run. These sales are great because they exhaust the big dealers fast as it forces them to spend money. This means there will be more cars for the picking and most of the time these big fire sales will profit you quite a bit. Sellers will be more likely to sell their cars for much less at these auction sales because they figure if they can't sell it at the big sales that they probably don't have a chance selling it at a smaller auction sale.
We hope these tips will help you find auction success and help you weed out the lemons from the apples. Happy hunting at the auction house and good luck!