Turns out I've got an old buddy that's a dealer, I'm thinking of putting him on the hunt for a specific vehicle. Question is, for those in the know...what goes on at these auctions? How do they work? Do you get any opportunity to inspect the vehicle? I haven't re- connected with him enough yet or I'd ask him.

Thanks as always!

quote:

Originally posted by dry-fly:
Turns out I've got an old buddy that's a dealer, I'm thinking of putting him on the hunt for a specific vehicle. Question is, for those in the know...what goes on at these auctions? How do they work? Do you get any opportunity to inspect the vehicle? I haven't re- connected with him enough yet or I'd ask him.

Thanks as always!

Not really a market standard. Best bet is to figure out which he will be going to and call them. This day and age they likely have a website breaking down their process.

Some allow inspections and some do not.

Interesting, thanks!

Most dealer only auctions allow the person to inspect and maybe even start the vehicle. I have spoken with many independent dealers that will bid for me and allow me to look at the dealer only Auction website to browse the vehicle. Usually I would have to pay the dealer $500 for him and what ever the it cost for the vehicle, plus the auction fee, and the price to ship the vehicle down to me. Auction fees can depend on auction to auction and so does shipping. I hope this helps. God Bless

Any bit of info helps, I appreciate it. My buddy was a best friend from HS, granted I haven't talked to him in 8 years... . I'm sure he'll give me the skinny once we actually talk. His wife did call me today though (she runs the front desk).

Edit..just FYI, that's 8 yrs since we talked, NOT graduated HS.

I went to one with a friend of my Dad's a few years ago. I was allowed to walk the lot, inspect them as much as I wanted, and the keys were in them to start them.

This was a huge weekly auction in Buffalo, NY but I cannot say if this is the norm.

One of my friends and his brother owns a body shop and have a dealers license. He buys auction cars for us all the time. We buy salvage vehicles and he does the repairs. I find what I want on the auction site and give him the lot number. when the auction goes live he bids on it up to what we think we can fix it for within the budget I want.

Recently purchased a 2016 Ford Expedition Limited EL with just 5300 miles on it. Hit in the rear end. You'd never know it now other than the salvaged title.

I worked for a auto auction years ago. The held the auction every Saturday. Dealers from around the 5 state area would come and inspect the cars and bid. Many would buy multiple cars and they always needed drivers to get the cars back to their dealership. That's where i came in. They'd pay me to drive a car and then one back to the auction.

I got smart and purchased a tow bar and would drive one and tow one and double dip.

They are not for amateurs.

My grandfather had a small used car lot he owned after retiring from the local police department. I went with him to an auto auction once about 9 or 10 years ago. They had the cars opened up with keys in them and guys running around with jumper packs as a lot of the batteries had died from sitting. But you could start them up and even drive them to the back of the lot where it was empty and "test drive" them. Though you had to keep it under about 20mph

They are not for amateurs.

Agree completely. Similar to buying foreclosed properties.

Manheim Louisville is near me and during the 70s, 80s and mid 90s. I was a regular. Back then it was the Tuesday sale or Louisville Auto Auction.

Pretty big deal usually have 3 or 4 lines going. Probably a 50 acre lot and several hundred cars go through on a Tuesday. You can lot drive most of the cars the day of the auction and they are all open for inspection. I had a buddy who was a dealer and he'd buy for me for $100. I'm not a dealer but there are private deals to be made once you know the ropes. I'd watch a good car not meet reserve and then Catch the seller with cash and eliminate auction fees and sometimes we made a deal.

The repossession line was open to the public but I seldom bought cars. My specialty was boats. They didn't bring book and were usually never detailed. Just go and hang around you'll get the feel. Ours has a very good cafeteria and other kiosks with good eats scattered around and they keep a movie theater grade popcorn popper going nonstop and it's free. I always took cash.

I ran a fruit mkt on a 1/2 acre lot, best location in town. Had a grass island on the point that was magic for a single sharp vehicle. I got many vehicles from customers but I was always looking for good cars to flip. My nut was cut from the mkt so anything I made on cars/boats/tractors/mowers/forklifts was walking around money. Love that WAM!

One of my ex's was a secretary of an auto auction company. I sat through quite a few and learned a little about them. Her company was open to the public and there were a lot of dealers and private bidders at the auctions.

Rule number one was stay away if you're not a professional. I saw a lot of people buy "deals" and get burned bad.

Rule number two was to refer to rule number one.