Car Auctions Are Big Money Business

Regardless of their source, vehicles are listed in car auctions with the main purpose to be sold quickly and hassle-free. Contrary to popular belief, cars seldom sell for unreasonably low prices at auctions. Many sellers put reserve prices on their stock specifically to prevent this from happening. The reserve price is not disclosed publicly and a “winning” auction bid is only considered a sale if the reserve price is met. Sellers have the option to re-list vehicles that did not sell at a particular auction.

As with any used vehicle, overall vehicle condition varies greatly. Many aspects of the vehicle appearance may suffer in the term of everyday use and result in any of the following damages: stained or otherwise used upholstery, scratched bumpers, dings on the doors, chipped hood, dented quarter panels. Most of these can be fixed with touch-up paint and/or a dent removing kit. Scraped wheels and worn tires may cost more to repair or replace.

If you are considering buying or selling cars at auction, a professional auctioneer can offer valuable advice. Auctionservices.com has created an Auction Community that is free and open to the public. Members include professional auctioneers who can answer your questions.