Cars under the hammer: This is how the car auction works!

Thomas Wachsmuth September 7, 2022 Tips, products, information & Co.

Reading time 6 Min.

An auction quickly turns into an ordeal for the nerves. And a thoughtlessly raised arm can suddenly become costly. Auctions are great though if you're looking for Bargain is. However, submitting an offer requires careful consideration, because a show of hands already signifies a deal a valid purchase contract. That supply and demand determine the price, can be at one Auction wonderful to watch. Aside from the popular art auctions, also delight car auctions increasing popularity. And with a little expertise and clever tactics, you can end up with a real one Bargain or even land a rarity.

the car auction

In demand among collectors are primary Classic Car Auctions. However, a wealth of specialist knowledge and a practiced eye are also valuable here. What is a heap of scrap for the layperson may be the ultimate gem for the expert. Anyone who dares to make an accurate assessment of the value of a restoration is in one Classic Car Auction precisely. Also government vehicles are among the most common auction items. These are used vehicles from federal ministries or administrations whose fleet is regularly replaced. This sometimes includes vehicles special kind:

ambulance, Fire department- or police cars
civilian and military service cars
snow blowers or Unimogs
confiscated vehicles

Even tanks or other Bundeswehr vehicles can sometimes be auctioned. The respective State decides about the private use of vehicles on public roads. Furthermore, must Blue light and Martin Horn but of course be and may be covered not be used. As a rule, these parts have already been removed by the time the auction begins, for example when old police cars are auctioned off. Possibly when buying though not all damages or defects known, where a guarantee or warranty at the vehicles locked out is. One should consider this fact. And also that the vehicle price is usually right in bar is paid.

If a seized vehicle is redeemed by the old owner, the highest bidder no longer has a claim to the vehicle in question. And who a quick car sale plans, who also has good chances at an auction. Auctions are traditionally held by auction houses carried out, and nowadays there are numerous auction platforms like Bring a Trailer, Mecum Auctions, Autobid & Co. there, especially in the Internet. In principle, the auction process is always the same, regardless of the type of auction. However, there are a number of things to keep in mind.

The process of a car auction!

If you are interested in participating in a car auction, there is usually one in advance Registration with identity card and registration certificate in the auction house instead of. Before the start of the auction, an illustrated Catalog created with the vehicles to be auctioned, in which each a fixed number receives, which indicates the auction order. However, since this catalog is only a rough guide and information basis, it should advance the possibility of one vehicle inspection be perceived if this is offered by the auction house. If necessary, should also a professional be consulted, because at auctions the motto "Bought as seen".

Incidentally, it is advisable to Research vehicle value. On the Internet can on sites for free car reviews be compared how high the price is for similar vehicles. Furthermore, it may be useful in advance to set a personal maximum bid, which should not be exceeded if possible. But one thing is certain: The bidding frenzy lurks once the bidding has started. The delivered Highest bid ultimately gets the surcharge, with what a binding contract of sale has come about. To keep a cool head during the bidders, you can find the here the most important points for a car auction:

advance inform and provide an overview
light auf selected set vehicles
market prices the recherchier
personal highest bid establish
modalities ask (Payment, fees etc.)
Viewing appointments perceive
strategically Smart offering
bidding war avoid and keep calm

Virtual or on site?

Online auctions were already common before the pandemic, but they have been extremely popular since 2020 at the latest. Depending on the auction item, an online auction or an on-site auction is offered. The advantages and disadvantages are listed below:

Live auction: As a classic variant is the live auction. All interested parties meet in one place where an auctioneer presents the vehicles on behalf of the owners. The submission of a bid takes place through Hand sign. It starts with a minimum bid, which increases step by step. If there are no more bids, the highest bidder is awarded the contract and can buy the vehicle Committed. Is there a note on the auction item “Surcharge subject to approval” before, must die consent of the owner are solicited for sale because the highest bid is below their expectations.

Online auction: Online auctions are enjoying increasing popularity. Here, too, it is important to snag bargains. online auctions differ from traditional auctions in that they according to the BGB not as an auction are to be considered in the actual sense and are therefore not protected by the corresponding paragraphs. Cases of fraud are therefore increasing in online auctions.

The same applies here that the submission of a highest bid results in a binding purchase contract, which must be fulfilled by both the buyer and the seller. at commercial online sales owes the buyer two-week right of withdrawal .

The Dutch Auction!

If the auction as so-called Dutch auction carried out, the auctioneer names a maximum bid in advance, from which lower bids are placed at defined intervals. The contract is awarded to whoever reverse auction first to accept the offer. This type of auction is common when there are large numbers of items to be auctioned, which has the advantage of saving a certain amount of time. The Dutch model is also used again and again at car auctions.

Worthwhile: Foreclosures!

Foreclosures often take place as part of the auction of official vehicles. Offered here are confiscated vehicles, their Proceeds from the sale benefit the creditors. For former vehicle owners, foreclosure is the worst option, since the price achieved is usually below market value lies. In this disadvantage lies the chance for the bidder to get a bargain. Vehicles from enforcement proceedings are mostly offered by customs, although it can happen that the vehicle is sold shortly before the start of the auction is triggered. The vehicle will then no longer be offered in the auction and it will not be possible to purchase it.

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