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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