Bidding at an auction is considered to be one of the most perilous ways to acquire a used car. If you would go to a private party, or a car dealer, you wouldn’t probably get the bottom line price. Therefore to get that price you have to attend and bid at an auction. The problem is that in an auction house things move really fast. One minute the car is there, and the other it’s gone. Not to mention that every couple of minutes another bid starts. Auctions are definitely not for everyone, but if you do your research right, and have decent mechanical knowledge and good instinct, than you can be very successful in your endeavor to find a cheap reliable car.
So in order to survive a bid, first if all you need to pick a good auction house. You can look everywhere, from the yellow pages, to the classified section of a newspaper. There are auction houses by the hundreds out there. If you see one, or heard about a good one with loads of decent cars, then it’s time for the research visit. During this visit you DO NOT bring any money, it’s just an observation visit to see how things go and have a look at the cars present. If you’re the nervous type than maybe you should reconsider purchasing a car from an auction.
If you like what you see and feel you’re up for it then get in contact with some of the organizers and acquire of the Conditions of Sale and Entry or other pertinent information about the auction house and auctioneers. Take heed of some bids and check if the prices for those cars match the ones from a dealer or a private party. Keep in mind at all times that these are just parameters. Every bit is different and should not be taken as a standard.
Here are some tactics in order to properly bid at the auction.
First of all, you need to position yourself near the car that you’re interested in. Have a look at the car while it’s being started. Does it behave normally? Are there any weird noises? Or can you see black smoke coming from the exhaust? All these are indicate that the car is not in the best shape.
Pay attention. When the car will be driven to the auction hall, it will have to make a short stop while it waits in a queue or cars. This will be your chance to have a look inside the car as well. You might even convince the driver to pop the hood so that you can have a closer look at the engine. This is the best time to decide whether you want to bid for this car or not.
If you want to bid for the car then make sure you’re in the auctioneer’s visual range and listen hard. What they have to say now is of grave importance. This is when he presents the car. Take heed of all the advantages and drawbacks of the car. You’ll hear something like “guaranteed mileage” and some bad things like “gearbox trouble”.
If you agree on the terms than be careful, the bid will start. It may sound strange, but always have a friend with you and have him tell you when to stop because in the frenzy of the bid, people tend to forget their actual budget and end up bidding more than they can afford. Make sure you don’t make that mistake because once bid, you are considered bound by contract to pay.