Car auctions are exciting events where customers and merchants come together to experience bidding on some of the most sought after cars. What is a car auction? Car auctions can be internet auctions and in person where new vehicles or used vehicles are sold on an auction system. Car auctions have enthusiastic crowds that places bids with hopes of buying the ultimate dream car. Some people prefer to be up close and in person to see the car and check out the engine and parts, while other people prefer to skip the hassle and attend an internet car auction.
Throughout the Unites States are where car auctions are held. Some people will travel to another state in hopes of bidding on the car they are highly interested in. Top car auction companies will travel to Las Vegas, Palm Beach, and Scottsdale to hold auctions. Internet car auctions require research to make sure that where car auctions are held are through verified websites and not fraudulent. Internet car auctions are growing to be very popular.
What to expect when you get there is that there will be a large variety of cars to choose from. The room will be filled with reputable car auctioneers ready to start the bidding. Upon entering a car auction many bidders will begin by walking around the vehicle. Most bidders use this method to start a visual inspection of the vehicle. This is important as the car may have some damage and it is imperative that the bidder examines the areas that do have damage in depth. Once the visual inspection is completed many bidders will start to inspect the interior to decide if it meets the bidders expectations.
The bidder will want to open the trunk, the hood and doors to make sure all parts open and close correctly. The bidder will want to start the engine and make sure there are no unusual noises coming from the hood of the car. Once the bidder has completed the inspection process and gathered any data on the vehicle a determination has to be made on a price. For a first time bidder one major factor that should be taken into consideration when deciding a price is the auction fees should be included in the target price to avoid going over budget. Before bidding on any car, research should be done to insure that the price the bidder will be offering is sufficient to the cars worth.
What is a car auction once the inspection process has been completed and a target price has been decided do next? The most important part of auction bidding is to understand how the auction works. A green light means the seller approved the vehicle and the vehicle adhered to the auction policy. A red light means that this particular vehicle will be sold "as is". A yellow light is important as this means to listen to the auctioneer as he has an announcement to make. Lastly, the blue light means that the title to the vehicle is not present, however the seller does have approximately 30 days to provide a title to the auction. Once a purchase is made the bidder is expected to pay at the conclusion of the auction.
Internet auctions are similar to in person auctions with requiring research into the car for pricing. What to expect when you get there on an internet auction is slightly different than in person auctions. With internet auctions the seller has a choice of selling one item at time or multiple. The bidder is expected to be registered so that the items that are being bid on can be tracked. Just as an in person auction, once the purchase is made same rules apply for a payment. The payment must be made once the auction has concluded. Two types of internet auctions exist. These types are business to person or person to person.
Car auctions are an exciting atmosphere to be around. The top three cars that are most popular at car auctions are Ferrari, Plymouth and Lamborghini. Most bidders will gravitate towards a Ferrari based on how amazing these vehicles look as well as they run great. The most popular model is the California Spider and the 275 GTB/C Speciale. Bidders will favor Plymouth cars that are muscle cars. Plymouth cars are the iconic American muscle car.
Next to Ferrari's are the Lamborghini cars which are a well known brand that bidders will seek out. Lamborghini cars that are sold at a car auction are a mix of modern models as well as vintage models. These cars are without a doubt built for speed and are extremely easy on the eye. In addition to these iconic cars some bidders are looking for a completely different model. Whether the bidder leaves with a car or not, car auctions are sure to make for an eventful day.