A Successful Blueprint For Police Auctions

Chicago Police Auction 1
Image by knorby via Flickr

So you’re at a stage that no one needs to convince you that there are bargains to be had at police vehicle auctions. Maybe the only thing you really still need is a good auction blueprint plan to follow which will turn your work into money saved. If you follow these next steps (4 phases) you will have started your successful journey to auction riches.

The Inspection

This can be pretty much described as a gift from the auctioneer – the chance to have a really good look at the vehicle. Make sure that you use it!! The purpose here is to have a closer look at particularly the engine (for mechanical issues) and structural integrity of the car as you won’t be allowed to test-drive it.

The VI number

Where most people get into trouble is when they overlook the fundementals. Without any significant monetary outlay you’ll be able to obtain a basic report on the ‘life’ and history of the car, using its VI number. This report provides valuable insights into the cars’ history and can ultimately be a dealbreaker for you in deciding on whether to bid on a vehicle at police auctions or not

Researching the Auto’s Title

Most folks agree that the police does check the titles of the vehicles before being put up for sale. Even more would agree that they don’t do a good job with it. Best to check this yourself as you do not want to sit with a financing house repossessing the car you just bought.

Determine accurate valuation

Entering into a bidding round at an auction for a vehicle without a reliable valuation is pretty much an act of suicide. It’s like driving downhill without any brakes on your car. If you do not have any idea or estimation on the valuation of the vehicle, you will usually bid until you win. Frequently this will be much more than what it’s actually worth. Because of this, ensure that you do know the accurate valuation and DO NOT bid a single cent more on it.

With all of this information you will usually be perfectly prepped for a standard police vehicle auction. It’s not uncommon for people to get completely caught up with the events at the auction – very true in particular with live outcry auctions. To be successful you need to remain relaxed and keep to your pre-planned strategy. The most successful bidders the ones that remain relaxed and collected. With their fixed strategy they usually walk away as the winners.

  • Web Auctions (stepbysteptips.com)

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Posted under Police Seized Cars

This post was written by admin on December 30, 2014

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