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07-01-2023, 12:59 PM | #1 |
Colonel
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Car Auctions - what has your experience been? Anyone here regularly bought & sold cars from auctions? I’ve always been interested.
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07-04-2023, 12:03 PM | #3 |
BMW Owner Since 1971
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Drives: 1964 700 Sport Cabriolet
Join Date: Apr 2014
Location: Central Virginia
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The good ones are only open to licensed dealers. If you know someone they might let you tag along and buy for you—often for a fee. People I know who have done this have seldom gotten really good deals. Think about it: You pay someone a fee if he buys a car for you. What's his incentive?
The public auctions are normally junk cars that dealers didn't want. I spent years doing the auction circuit buying cars for our dealership. I'd go a day in advance and check out only the cars that interested me, then determine as best I can sitting in a parking lot which ones are worthy. If you just land there on the day of an auction you'll find the often less-than-a-minute the car is in the lane is hardly enough time to make a reasonable evaluation. And, yes, currently used-cars are at least 30% over-priced. Of all the cars I've bought for my own use, only one was an auction car. My boss didn't like the '88 535is with the 3-piece BBS wheels on it that I bought at a Manheim High-Line sale back around 1991. So I kept it for myself. Paid $14,000 for it and drove it for probably five-years before selling it for $19,000. The rest were all from private sellers. Last edited by BMWCCA1; 07-04-2023 at 12:16 PM.. |
Appreciate
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