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