| There are practically thousands of cars that the | | | | depending on the cars. It is normal that buyer's |
| government and the police confiscate each year. And | | | | premium in confiscated automotive auction be 5% of |
| most if not all of these cars end up in public auctions | | | | the winning bid but at times it reaches 10% of the |
| or in a confiscated automotive auction. Auctions are | | | | winning bid. So you need to find out before the |
| actually a great thing. | | | | bidding war commence how much the buyer's |
| Because of these auctions, individuals who normally | | | | premium. |
| cannot afford a car have a fighting chance of owning | | | | When you go in a confiscated automotive auction it |
| one. The auctions have provided these people the | | | | would be wise to bring with you your little black |
| small window of opportunity since most of the cars | | | | book. No, this is not the one with the phone numbers |
| sold in confiscated automotive auction are sold with | | | | of women but rather the notebook which contains |
| as much as 80% to 90% slashed off their appraised | | | | car pricing updated at least monthly. |
| retail value. | | | | This book will come in handy especially in wholesale |
| But one must always remember that in a confiscated | | | | auto auctions. The book normally contains vehicle |
| automotive auction, it is basically every man for | | | | makes, models, and the price of the vehicle if it is in |
| himself. It is therefore important to arm yourself with | | | | bad, fair or good condition. This will definitely give you |
| the knowledge and skills to identify the flaws of cars | | | | an idea how much to bid for a car. |
| being sold in auction to get the best value for a car. | | | | Now, when you go in a confiscated automotive |
| When you won a bid in a confiscated automotive | | | | auction be sure that you have enough money in your |
| auction, or in any kind of auction, you should | | | | bank account since it is common practice nowadays |
| remember that you usually add a buyer's premium on | | | | at auctions that you show a bank draft instead of |
| the winning bidding price. So beware on how much | | | | just checks. Also, always come in auctions early. Not |
| you bid. You might end spending more than you | | | | only will you be able to get to examine the cars first |
| intend to. | | | | but you will also have time to think and consider your |
| Buyer's premium varies depending on the auction and | | | | options before the bidding starts. |