| * Have you ever dreamed of owning one of those | | | | catch someone off guard and get the bidding started |
| high end luxury cars but just couldn't fit it into your | | | | high all the more better for him. He probably gets a |
| budget? * Wouldn't you like to impress your friends | | | | commission on each vehicle sold and the higher the |
| and neighbors when you drive up in that Lexus, BMW | | | | price the more money in his pocket. * Unless a vehicle |
| Mercedes, Cadillac, a customized SUV or Hummer? * | | | | has a minimum set price you can start the bidding as |
| Now you can. * How, you ask? * Answer: | | | | low as you want. If the bidding is going lets say $100 |
| Government and Public Auto Auctions! * Each year | | | | increments and you want to bid half that or even a |
| the federal government sells billions of dollars of seized | | | | quarter, tell one of the assistants or auctioneer. * |
| and forfeited surplus. A large chunkof this is vehicles. | | | | Some Do's: * I : If this is your first time at a auto |
| Here you can find the high end luxury cars (BMW, | | | | auction just go look around and observe the operation |
| Lexus, Cadillac, Mercedes, Ferrari, just to name few) | | | | before buying. * II : Inspect the vehicle prior to the sale. |
| and even custom made Hummer Limousines. You can | | | | * III : Read all the rules and regulations. * IV : Find out |
| even find Motorhomes and Motorcycles. * Its an | | | | what fees are involved. * V : Check any warranties or |
| enormous cost to store these vehicles so the | | | | guarantees. * VI : If possible buy at a day sale. You |
| government will hold auctions throughout the year to | | | | can inspect the vehicle better. * VII : Set a price you |
| get rid of theseas fast as they can even if the vehicle | | | | are willing to pay for a vehicle and stick to it. * Some |
| brings a fraction of what its worth. This is where you | | | | Don'ts: * I : Buy a vehicle unless you are convinced it is |
| can grab a bargain. * These vehicles are usually | | | | reliable. You don't want to sink money into a lemon. * II |
| seized and confiscated from illegal drug dealers and | | | | :Get into a bidding war with another buyer and bid way |
| other criminal activity. As you know these people don't | | | | over your head. * III : Go over your budget. * IV : Get |
| drive around in cheap compact cars. They drive the | | | | over anxious. * Auto auctions can be fun but they can |
| expensive high end luxury cars SUV's and custom | | | | also be stressful. To make it more fun and rewarding |
| made vehicles. * Incredible deals are waiting for buyers | | | | go prepared and stick to your plan. * Each auction has |
| just like you at auctions held year round. * Auctions | | | | its own method of operating but the basics are pretty |
| can consist of one to two or more lanes. They can all | | | | much the same. * We'll look at: I : Warning signs and |
| be auctioning off vehicles at the sametime and it gets | | | | tips on what to look for when checking out the |
| quite noisy. There's a lot of moving and crowding | | | | vehicles prior to the sale. II : General Auction Rules and |
| around the auction block. The auctioneer will usually | | | | Regulations: These may vary from auction to auction. III |
| have 1 or 2 assistants down on the auction block | | | | : What these terms mean: a : As Is: b : Buyers |
| helping him pick out whose bidding. If you have a | | | | Premium: c : Minimum Bid: d : Opening Bid: e : Absolute |
| question ask one of them. They will help you. | | | | Auction: f : Reserve Auction: g : Sealed Bid Auctions: h |
| Sometimes its hard to understand the auctioneers | | | | : Arbitrator: * There are a number of different auctions. |
| words. * The auction goes at a fairly quick pace. Most | | | | * You have: a : Federal Government Fleet and Seizure |
| are vehicles are sold in under 5 mins. If you plan on | | | | Auctions: b : GSA (General Services Administration) |
| biddingget near the assistant or auctioneer and signal | | | | Fleet Auctions: c : State and Local Government: Police, |
| (head nod, hand movement) to indicate you want to | | | | Sheriff, City and County Fleet Vehicles: d : Public |
| get in onthe bidding. If someone bids against you, signal | | | | Auctions: e : On-Line Auctions: * Lamar Deane is an |
| again. * Don't jump in on the first figure the auctioneer | | | | independent auto dealer knowledgeable in car sales |
| throws out. He knows what the seller is asking for the | | | | and auto auctions. |
| vehicleso he'll start asking for bids above that. If he can | | | | |