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Used Car Auction

By Hanna Nilson
 

There are many different public auctions out there. If you’re looking to find a specific type of used car or if you’re simply exploring options for saving money on your next purchased vehicle; a used car auction is a great place to start!

First of all, there are several different kinds of used car auctions, terminology, bidding strategies etc. Surprisingly, auctions have been known to date back all the way from 500BC! Understandably so, this is a well developed practice. There are now several basic used car auction systems including the following:

  • The “English Auction” i.e. “Open Ascending Price Auction” is one of the most common methods. An English style used car auction allows bidders to openly place their bids starting with an initial amount or set price. As the competition grows, bidders will try to price each other until the top bid is placed. The heist bid get the prize.

  • Another similar used car auction format is the “Dutch Auction” i.e. “Open Descending Price Auction”. This kind of auction is very similar to the English style; however, instead of bidding up guests bid lower then the starting price.

  • Finally is the “Sealed First Price Auction” which is otherwise known as a “First-Price Sealed-Bid Auction” (FPSB). In this case, bidders may simultaneously place their bid on a used vehicles of their choice. Once the closed bids are compared, the person with the highest bid gets the car.

Government and/or police used car auctions feature seized cars, SUVs and trucks. The idea of bidding on a used car that may have been a part of some major crime or drug-bust is not very flattering. Granted that this may not be the case for most of the used cars at Government auctions, the notion of any questionable history may turn some people away from participating in these auctions. However, keep in mind that Government used car auctions are also some of the best venues for large savings on quality vehicles. If you visit Gov-Auctions.org, you will find that most used cars up for auction start at a bid of only $100.00. Also, most of the vehicles are only 2 to 3 years old.

Used car auctions are now available via the web. Isn’t it amazing? People can now bid for used cars from across the country all within the comfort of their own home. This may seem like risky business. However, if you make sure to do your research and verify your sources, online used car auctions can be a convenient and easy way to bid for any used car you want. Make sure that the online auction venue is safe, secure and trust worthy. Remember, internet shopping can be risky business especially for those in the market for expensive items such as used cars, trucks or SUVs. For starters, you may want to check-out some of the following sites: InterstateAutoAuction.com, MotoBidia.com, AutoCastle.com or MonsterMotors.com. If you’re looking for generic used car parts and/or accessories, you can always use sites such as EBay which is relatively popular and reliable.

Used car auctions can be lots of fun. They can prove quite profitable if you’re selling your car(s) or they can also save you money when making a purchase. It’s a creative and competitive way to shop. If you’ve never been to an open public used car auction before, it’s never too late to try it out. Look to your local listing for community or local used car auctions.

 

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