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Articles
Every month the government collects 1000s of siezed
cars,atv's,buses,dirt bikes,trucks,motorcycles,campers,vans, and even
aircraft!
Where do they get them from? Many federal, state and local law
enforcement agencies sieze these vehicles from criminals. They have
tons and tons of vehicles on hand and need room so they offer auctions
to interested people, people just like you and me.
These items need to go fast, so the auctions can start from $100 or
less!
Lending institutions such as banks and the like also repossess many
houses and businesses from people who dont keep up with their payments.
They also put these items up for auction at unbelievably low prices.
Anybody can get into these auctions and purchase the house or vehicle
of their dreams.
Where do you find government auctions? Usually the government auctions
are held either locally or nationaly and they are mostly held in the
same places all the time.
A tip thats certainly worth mentioning is the simple fact that you
should always do your research before going into any type of auction,
especialy one that involves either homes, property or vehicles. Find
out the items history and value and then decide if its worth going to
an auction. Find out what type of vehicles you are interested in first,
then look for all the information you can before getting into the
auction.
Make
sure you dont over bid for something that isn't worth the money.
Also, dont forget to check with all the
banks in your area when their next auction will be. Most banks have
branches all over the country so you may be able to find some really
great deals that you normally couldnt get from your part of town.
There are also some online government and bank agency auctions. These
will charge you some money, on average around $50.00. But they do all
the work for you, which is a plus.
If you are new to auction, you may want to do extensive research on
this topic as well. Here are some guidelines for your car auctions
ventures-by all means, this isnt a complete list, but it lists some
auction basics. For a more indepth look into auctions you should do
some research at your local library or the internet.
Reserved Auctions: The seller will set a reserve price for the goods.
If the bidders dont achieve this price, the seller can refuse to sell.
The seller has a choice on whether to disclose the price of the item or
not.
Private Auctions: Bidders do not have to give their identities in this
auction.
Proxy Bidding Auctions: Proxy bidding is where the seller sets the
highest price that they are willing to pay. Their bid is increased in
increments until either they have won the auction, the auction ran
higher than their highest bid, or somebody else won the auction.
On Site Auction: These type of auctions are held by companies who have
items that are much too large or costly to ship to an auction house.
The bidders will have to go to the place of business for this type of
auction.
Hammer Price Auctions: This is a type of auction that stops when the
auctioneer decides that the price has been met.
Dutch Auctions: This auction is where the seller auctions off all of
the same kind of items. The winning bidders of this auction only has to
pay the lowest price that was bid on.
Appraisal: An appraisal is when an auctioneer has looked over the
item(s) and decided on the price from the condition it is in and from
the extensive research the auctioneer has done on that type of item.
American Auction: This is an auction where the seller submits many
items for the same price. The winning bidder is someone who gives the
highest bid for the most items.
Absolute Auction: This is an auction where the seller submits an item
and cannot put a reserve price on it.
Sealed Bid Auctions:
The bidders submit thier bids by envelopes and the envelopes are opened
at a predermined time and place of the auction.
Absentee Bids: These auctions are held for people who do not want to
attend the auction. They simply submit thier bids, or have someone else
do it for them, before the auction starts.
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