Turning up to a car auction unprepared is a dangerous idea and can lead to a serious amount of money being wasted.
Car auctions are incredibly popular and are a genuine way of picking up some fantastic cars or starting to make a sensible profit by bagging a bargain and selling it later for more money. Auctions are now popping up more and more, not just in the US, but worldwide, as car enthusiasts look to find a bargain and add vehicles to their personal garages. While they range in size and scale, all auctions tend to follow the same processes.
Even though they are always very well organized, they can be very chaotic due to the nature of the format, with auctions tending to be very fast-paced, meaning it is crucial to know exactly what is going on prior to arriving. Turning up to a car auction unprepared is a dangerous idea and can lead to a serious amount of money being wasted, which is why it is key to know all of the biggest secrets regarding how they work.
Despite how popular car auctions are and how often auctions are shown on television and film, that doesn’t mean that everyone knows everything about the process, which is actually more complicated than people think. Therefore, within this article, we will reveal the 25 deepest secrets about car auctions.
25 Transportation Can Seriously Increase The Cost
One of the secrets that isn’t really pre-advertised is the fact that transportation can seriously increase the cost of cars, which a lot of newbie buyers might not realize when they are planning their budget for an auction. It is a deceiving cost but it does make sense because if you happen to live out-of-state or in a different country (which will really increase the cost), you must pay for the shipping cost yourselves, which can cause a big spike in the cost.
While it might seem obvious to some people, many who are new to auctions might not factor this in, and therefore it would make sense to contact transport companies beforehand to get an idea of what the cost could be.
24 It’s Every Man For Themselves
While car auctions might seem like a fun, albeit slightly chaotic, place where you can get to know fellow car enthusiasts and try bag yourself a bargain, the fact is that it is a dog-eat dog-kind of world and it really is every man for themselves. People with more experience will happily play on the fact that others don’t seem to know what they are doing and everyone will do anything to make sure they get what they want for the cheapest possible price.
Car auctions have the possibility to be brutal for those without experience and sellers will be equally as deceptive, selling their cars at the highest price no matter what the condition of the vehicle might be.