Inside Car Auctions – What You Should Know and What Are the Alternatives


July 8, 2017 Facebook Twitter LinkedIn Google+ Online Auction


When I decided to buy a seized car, I had no idea what was expecting me.

Seized car auctions can be difficult as in some cases arise certain issues that can make your life difficult. The most important point that you should watch for is the following.

In certain areas of the country, auctions are stalked by what is known as “Bid sharks”. Bid sharks work in groups and they hit the price in such a level, that it becomes impossible to buy. What you do not know is that in some cases they will not even buy the car. By that time you will have walked away or you will have accepted the “shark bait”.

The shark bait is usually an amount of money you will have to pay them so that they will walk away.

There are two ways to avoid this:

– You either find a very good auction and you make sure that the auction organizers take active steps to avoid the above phenomenon.

Or

– You take the easier solution, which is to use an online car auction. Inside an on line car auction you do not observe such behaviors as these auctions are electronic, truly sealed and anonymous.

I have bought through these auctions three cars, two of which I have resold for very good money. There is also a very extreme example of a relative that bought a used plane but this is another story waiting to be told.

So, to recap:

– Either examine and select the best auction or

– Use an online car auction. They are very secure, most of them using some world known money handler as ClickBank or other and you only need a PC, a credit card and a few minutes. After your bid is accepted as the best, you have certain days to accept or to refute a car. You have a limited amount times that you can refute a car. If you do it too often then you get banned from that site.

Preparation breeds success.

The story of buying those car was actually kind of sad and funny in an interesting way. If you want to find out where it all started just look here:

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