Public automotive auctions offer quality used vehicles for prices 90% off than their original prices. Sounds really good, but are they really good? How do Public automotive Auctions work? It is necessary to know the procedure of used car auctions to get a great car for the price less than its retail value? How to prepare wisely to increase the chances of success at the used car auctions?
These are few of the questions which bother each and every one of us. Let’s check out the answers of few of them!
Public automotive auctions generally schedule a pre-inspection day. Take time to look around the vehicles at the auction lot and check your intended vehicle inside out. Check and inspect the vehicle to make sure that it meets your requirements. Calculate your financial budget for maximum bidding before the auto auction begins.
Bidding is the important part of any Public automotive auction. Each vehicle on sale will be driven through the auction room one by one. The auction officer will declare the lot number and explain the car. Then the bidding process begins. The bidding process of the Public automotive auction is very fast and confusing for the first time. Take time to watch how they work for first few vehicles.
The auction officer will try to start with an asking price, “Who will offer $1,000 to start?” If no one wants to start with that price, the auctioneer will announce a lower price until someone bids. To bid, just raise your hand and show your bidder number. A staff of the auto auction will shout to you, “Yes sir!” The auction officer will announce your price like this, “I got $850, who’ll give me $900?” If any bidder wants to bid for $900, he will raise his hand and bidder number. Again a bid catcher of the used car auction will point him, “Yes sir!” If you higher the bid, the bid catcher will see you and the other person will out. This procedure goes on until nobody wants to raise the bid. The officer at the auto auction will announce, “I have $1800, who will give me $1850? Call for once, twice and third! Sold!”
If you gave your bid was the highest, then the vehicle is yours! Immediately contact the money deposit section of the Public automotive auction and drive the car home.