Auction

[alsant]

Just wondering anyone have any feedback on buying a car from a auction ?

 

[BeatersRus]

yes,take someone with you if you dont know what you are doing,someone that Does.
keep in mind most regular auctions are usually cars that need something major,been laying around or whatev.
and all they want to do is get the most money for it and its up to you to look at the car and figure the real value.

now,if you are going to barret jackson,
then you are swimming with the big fish and likely to get tanked.
theres a line between value and the need to own a car.
most of those big fish,can tell you right to the penny what the cars worth,just by looking at it.


be Prepared for some Fast calling when the auction starts !!
my first auction,lol,i ended up literally bidding myself up,
because the auctioneer was going so fast i thought i had lost the bid.
we all got a good laugh and i got embarassed,but,i still won the car so it was all good.

seriously,take an experienced person with you to an auction.
and,dont be that guy who doesnt look Under the cars.
theres a lot of fluff and buff cars out there,till you look Under them.

 

[greycharger]

Ten years ago, I bought a mid seventies Celica GT for $1.
The auctioneer had been rude to me earlier, so I had an attitude. Who'll give me $500? $250? and so on until I realized that nobody wanted it. It was a clean, complete car that probably ran and $50 would have been a run away deal, but I made him back up to $1. It turns out those cars are more popular than I ever imagined and I sold almost every part of it.
The moral of the story is: If it costs more than $1, know what you are bidding on.

 

[Kowal]

Sure. Done it a couple of times.

Work really hard to understand the car before it hits the block, don’t just make a decision then. If you can talk to the seller that is very helpful. Don’t be dazzled by everything being shiny, look and think about what is wrong and can go wrong that you would want to correct. B-J and Mecum offer free drinks to bidders...fun but remarkable how “bold” it can make you (read expensive).

Finally, know the price you will walk at and stick to it. I had a friend way over bid on a car as he got in to a bidding war with another guy, at B-J on the stage. After he won for a big price, I asked him why he did that and his answer was the other guy was an a-hole! Don’t do that!!

Even as careful as I try and be, I have gotten burned on at least two cars that cost me a bunch to make right. Each started and idled well, seemed well done, but drove horribly...one with bad brakes and suspension issues, the other with all kinds of driveability problems. Both took a lot of time and parts to fix, but I guess that is the hobby!

 

[1967coronet]

Do not bid until the very end of bidding on the car.
Watch and learn who all is in, watch other cars sell that you have no interest in just to get a feel for the auction.
At times you can be bumping your own bid with that phantom online bidder

 

[fwi]

And be sure to have a maximum price in mind that you will not go beyond......that's where the "I got to have this car" syndrome kicks in.

 

[PP1RT]

yes,take someone with you if you dont know what you are doing,someone that Does.
keep in mind most regular auctions are usually cars that need something major,been laying around or whatev.
and all they want to do is get the most money for it and its up to you to look at the car and figure the real value.

now,if you are going to barret jackson,
then you are swimming with the big fish and likely to get tanked.
theres a line between value and the need to own a car.
most of those big fish,can tell you right to the penny what the cars worth,just by looking at it.


be Prepared for some Fast calling when the auction starts !!
my first auction,lol,i ended up literally bidding myself up,
because the auctioneer was going so fast i thought i had lost the bid.
we all got a good laugh and i got embarassed,but,i still won the car so it was all good.

seriously,take an experienced person with you to an auction.
and,dont be that guy who doesnt look Under the cars.
theres a lot of fluff and buff cars out there,till you look Under them.

Kind of funny about bidding yourself up. Seen husband and wife bidding against each other before at an estate sale. They won the item!! Lol

 

[Broken Mopar]

Auctions are good place to sell. Not a good place to buy.

 

[Budnicks]

I didn't notice it mentioned

Many auctions you have to pay for a bidders #
(I've seen it, ranges from $50-$500 or more)
you have to have a preapproved, have a specific amount/credit line
& sometimes a bank statement, good photo identification
or sometimes a credit report, insurance etc. or letter of credit etc.

Many times (not always) if you do buy,
the price/fees of getting the bidder #
is many times taken off the sale fees/costs

the final cost/fees is 5%-10% above your final bid price,
plus + any appr. taxes & license fees, be prepaired

they will 'sometimes' deal on the price/cost consignment or buyers fees
if it's a no-reserve auction

most of the auctions, do have reserve pricing
set # min. sale amount, priced buy the seller,
it can be changed sometimes too & be lifted obviously

be careful waving you hands & arms around,
don't bring undo attention to yourself
mistaken for a bid, stay sort of incognito, under the radar
even when bidding
people don't need to know who they're bidding against

sometimes depending on, who's action co. it is
you can talk with an 'auction bidder assistant' prior
& tell/ask them to come over & help you when a certain lot #
that you're interested in, comes up, to help/assist you
easier in a larger auction setting to get the auctioneers attention

you can have an auction employee do a proxy bid for you too
you tell them what/where you want to start & what/where not to go over etc.
I've never done it, so not sure what to do in that situation

good luck & have fun, be/bid wise on your choice
try not to get caught up in the moment