Reserve prices at Government vehicle auctions refer to the prices seller sets, minimum amounts for which deals would be settled between sellers and purchasers. Every month across the US, hundreds and thousands of seized vehicles by various Government Agencies like FBI, IRS, DEA and Police Departments are auctioned off to public. Such Government vehicle auctions are opportunities to which millions look forward to get wonderful vehicles of their choice. The vehicles in such Gov auctions are sold at unbelievable prices. Some auctions start at as low as $100.
Such used car auctions held by government agencies sell off surplus or seized vehicles that are well maintained and offer great performances. To make things more convenient and avoid hassles of traveling to other states or cities for such auctions, live auctions of government vehicles are made online for bidding. You can participate on such online auctions and bid for a vehicle you wish to buy.
It is easy and very much economical to purchase auctioned vehicles from the US Gov. If you wish to take part in the bidding of Government auctions you have to register yourself to preview the vehicles and learn the conditions of auctions. As soon as you are registered for the sale, you have the list of vehicles in the inventory. Most auctions allow you to start the engine but won’t allow a test drive. You don’t have to worry about the engine condition, because such vehicles are well maintained before sale.
As the auction process starts you have to be careful in making successful bids. If you are a new bidder and bidding for the first time take part in a mock auction to learn how to bid successfully. The auction officer would set the reserve prices at for vehicles at Gov auctions. Reserve price refers to the minimum price for which the vehicle would be sold. If the reserve price is not reached the item is not sold. However if the owner of the vehicle or the agency conducting the auction accepts the low bid less than reserve price, the vehicle is officially sold to the bidder highest among low bids.
Always take not of reserve price message that appears next to current price bid on a screen. As the bidding process progress ‘reserve met’ or ‘reserve not met’ appears next to the current bid. There are some advantages of such reserve prices of government vehicle auctions. The reserve price allows every auction to start at a low price which is attractive and pocket friendly. This is indeed one of the tools to boost bidding prices. Low price stimulates the enthusiasm for bidding. Low price attracts lots of bidders and in enthusiasm participants or bidders go on bidding better than competitors.
Even if you buy a vehicle for a price little more than reserve prices at government vehicle auctions, there is no loss. You get a clean, great quality, well maintained, popular style and cool color vehicle for your personal usage. The reserve price is very much less than original price. More than that there is no additional buyer’s fee or other expenses in Government auctions, which are inevitable, if you buy used cars from other sources.