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Bidding And Selling Tips To Remember For Used Car Auctions

Friday, December 27th, 2019
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Sometimes used car auctions don’t go the way that sellers or buyers plan. For sellers, this can be because not enough buyers attend an auction or they don’t list something correctly in the catalog. For buyers, it could be that they don’t understand how to bid competitively or that they bid too much. The following tips can help you be more successful at used car auctions, whether you are a seller or buyer.

Tips for sellers

If you are selling a car or multiple cars at an auction, you should be prepared. This is a great option for selling a car because it means you don’t have to list it, keep up with potential buyers, or haggle. Follow these tips to help the process go smoothly.

  1. Do some research. You don’t want to set a minimum bid that is too high because this will not encourage bidding. A reserve auction will allow you to set a base price that you are not willing to go under.
  2. Pick the right type of auction. An online auction can be helpful if you want to attract more bidders. A live auction will allow bidders to look at your car, which they appreciate.
  3. Clean the car before the auction. Bidders will prefer to go for a used car that looks good and runs well.
  4. Be honest. It can be tempting to try to hide issues that will affect your used car’s value. If you sell online, be sure to take plenty of pictures and include any important information. You should do the same for a live auction catalog and answer any questions bidders have.
  5. Make sure the title is clean. Having a missing title or one with a lien will turn buyers away from your vehicle.

Tips for bidders

There are many mistakes that bidders can make at a used car auction as well. You can prevent yourself from making these mistakes by preparing beforehand.

  1. Research the cars you are interested in. You should have access to an auction catalog long before the event. Use this to find and research the price of the vehicles.
  2. Arrive early. This will allow you to walk around and take a look at the used cars you want to bid on. You may even be able to talk to the sellers.
  3. Talk to the auctioneer. It is important to get to know them, especially if you will attend their used car auctions often.
  4. Make a budget. This is vital to staying on track. You may be tempted to buy every car that goes up for auction or spend too much on one vehicle.
  5. Don’t be afraid to move your budget around. If you see a car that you love but budgeted for two cars, consider going for the one you will enjoy more.
  6. Go with someone who understands cars. This will help you know you are getting the best deal possible. They can look out for any red flags regarding condition and maintenance.
  7. Don’t get too excited. Doing so can cause you to overbid and create too much competition amongst bidders.
  8. Know the rules of the auction house. You want to be sure that you don’t get disqualified for something you did not know about.
  9. Attend auctions at the right time. The value of used cars will fluctuate depending upon the time of year. For example, more people will attend auctions after getting their tax refunds, so prices can increase.

Car auctions in Texas

If you are interested in Selling or Buying a car at auction, contact the experts at High Plains Auctioneers. We have sold a variety of vehicles at auction, including work vehicles, passenger vehicles, and farm equipment. You can reach us at (806) 244-6776 or Contact Us by email to learn more. You can also view our Upcoming Auctions to see what we will have available.