Apr 282024
 


Every month the government collects 1000s of siezed

cars,atv’s,buses,dirt bikes,trucks,motorcycles,campers,vans, and even

aircraft!


Where do they get them from? Many federal, state and local law

enforcement agencies sieze these vehicles from criminals. They have

tons and tons of vehicles on hand and need room so they offer auctions

to interested people, people just like you and me.


These items need to go fast, so the auctions can start from $100 or

less!


Lending institutions such as banks and the like also repossess many

houses and businesses from people who dont keep up with their payments.

They also put these items up for auction at unbelievably low prices.


Anybody can get into these auctions and purchase the house or vehicle

of their dreams.


Where do you find government auctions? Usually the government auctions

are held either locally or nationaly and they are mostly held in the

same places all the time. You can search through your morning newspaper

and maybe come across an auction. They are usually held on the same

dates every year, so finding one in your local newspaper might take

some time.


A tip thats certainly worth mentioning is the simple fact that you

should always do your research before going into any type of auction,

especialy one that involves either homes, property or vehicles. Find

out the items history and value and then decide if its worth going to

an auction. Find out what type of vehicles you are interested in first,

then look for all the information you can before getting into the

auction.


Remember this tip: Dont get caught up in a car auction hurricane! Dont

keep bidding and bidding on something that might not be worth it. Thats

why doing your research is so important. You will need to pay for the

item after the auction at the auction sites specified time period. Make

sure you dont over bid for something that isn’t worth the money.

Everything you get from these auctions will most certainly be used, so

dont get suckered in to a bidding hurricane.


To find these auctions you may have to check out a national newspaper

or ask the federal, state, or local agencies when and where they will

be having thier next auction. Also, dont forget to check with all the

banks in your area when their next auction will be. Most banks have

branches all over the country so you may be able to find some really

great deals that you normally couldnt get from your part of town.

There are also some online government and bank agency auctions. These

will charge you some money, on average around $50.00. But they do all

the work for you, which is a plus.


If you are new to auction, you may want to do extensive research on

this topic as well. Here are some guidelines for your car auctions

ventures-by all means, this isnt a complete list, but it lists some

auction basics. For a more indepth look into auctions you should do

some research at your local library or the internet.


Yankee Auctions: This is an auction where the seller will list many of

the same items. The winning bidders will pay their highest bid.


Reserved Auctions: The seller will set a reserve price for the goods.

If the bidders dont achieve this price, the seller can refuse to sell.

The seller has a choice on whether to disclose the price of the item or

not.


Private Auctions: Bidders do not have to give their identities in this

auction.


Proxy Bidding Auctions: Proxy bidding is where the seller sets the

highest price that they are willing to pay. Their bid is increased in

increments until either they have won the auction, the auction ran

higher than their highest bid, or somebody else won the auction.


On Site Auction: These type of auctions are held by companies who have

items that are much too large or costly to ship to an auction house.

The bidders will have to go to the place of business for this type of

auction.


Hammer Price Auctions: This is a type of auction that stops when the

auctioneer decides that the price has been met.


Dutch Auctions: This auction is where the seller auctions off all of

the same kind of items. The winning bidders of this auction only has to

pay the lowest price that was bid on.


Appraisal: An appraisal is when an auctioneer has looked over the

item(s) and decided on the price from the condition it is in and from

the extensive research the auctioneer has done on that type of item.


American Auction: This is an auction where the seller submits many

items for the same price. The winning bidder is someone who gives the

highest bid for the most items.


Absolute Auction: This is an auction where the seller submits an item

and cannot put a reserve price on it.


Sealed Bid Auctions: These auctions are done with the utmost secrecy.

The bidders submit thier bids by envelopes and the envelopes are opened

at a predermined time and place of the auction.


Absentee Bids: These auctions are held for people who do not want to

attend the auction. They simply submit thier bids, or have someone else

do it for them, before the auction starts.

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