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August 13, 2013

RM Auctions–Auctions for Collectors

RM Auctions claims to be the “the global leader in the collector car auction industry.” They offer a variety of services including, “auctions, restoration, appraisals, collection advice, private treaties, and estate sales.” They caught my eye for two reasons-first, I just love looking at old cars restored to perfect condition; second, they hold an auction, this fall, in Hershey, Pennsylvania. I imagine that is in conjunction with the annual classic car show there, one I attended some years ago, a highlight of my college years!

As far as looking, the RM Auctions web site allows, indeed welcomes, you to look, either at its entire collections or narrowed down to a particular auction. I clicked on a red 1953 Ferrari, and I not only could look a a number of photos of the car but also a nearly 5 minute video story about the car and its history. That car will be auctioned in Monterey in just a few days. The site also includes a lengthy and detailed fact sheet about the car.

Without a doubt, the vehicles offered here are the best of the best, meaning of course, expensive beyond the budget of most of us. Still it is fun to look around to see what they’re selling. They offer a both a magazine and catalog, and they link to information on both consignment for sale and on their restoration services. In addition, RM Auctions also does estate auctions of entire collections, with links to a number of collections as well, largely from past sales. They also make interesting viewing with a collection of woodies, of micro-cars, and of auto-related signs, to name a few.

Auctions may be viewed live, on-line, and a person may register and bid on-line as well. Catalogs are available both digitally and in print. Clicking to related events will take you to the page with information on both the annual car show in Hershey from October 9 to 13, 2013, the one I attended, as well as to the “Night at the Museum,” October 9, at the AACA Museum (The AACA is the Antique Auto Club of America.

August 7, 2013

GSA Fleet Vehicle Sales

The United States General Services Administration (GSA) sells off “U.S. Government owned cars, trucks, SUVs, and vans to the public at substantial savings” according to their web site. Besides being a resource for the prospective buyer at auction, the website has a user-friendly layout for the novice auction buyer. The site provides for windows to provide the information that you, as a prospective buyer, will need to get the best deals on the vehicle you want.

First, “Find a Vehicle” allows you to search the entire database for the specific car you might want. For example, I found 3 Hondas but none were Accords. The site has a registration option that allows you to maintain a search for a particular vehicle or vehicles until they become available.

Second is a “Search for Auctions,” which allows a user to locate specific GSA auction houses by state. A search for auctions in Michigan came up with 5, one in Gaylord, Michigan, on August 20, 2013, with the information on the auction house, including a map. The other 4 were in near-by states—Illinois, Indiana, Ohio, and Wisconsin.

The third window offers general information about the GSA and its auto sales. It provides helpful information including a page regarding alternatively fueled vehicles. It also links to a brochure, but I found myself on a USA Publications page where a search would be needed to get to the auctions brochure. At that point, it seemed unnecessary, although I saved the link for future use.

The fourth window provides links to explain how GSA auctions and auctions in general work, with one for first-timers. Experienced or not, I would recommend looking through those links.

Just go to the GSA Fleet Vehicle Sales site and look at the scrolling information. You will quickly get a clear picture of a valuable resource for anyone looking to get a good car at an action price.

June 25, 2013

Do I have to Have a Permit or License to Buy at an Auction?

Auto auctions come in all shapes, sizes and flavors. Some auctions require you to be an active, paying member, and others only require you come on-time with money in hand.

A major factor to consider when attending an auction is whether you need a permit or license to enter. First, if you plan to go into this industry with the idea of selling cars for profit, your state may require you to obtain a car dealer’s license. I’d advise checking your local DMV for laws governing your state. Also, some auctions are only open to auto dealers so, before driving to the auction, be sure to check ahead on the license requirements.

Secondly, some states don’t require you to have a license to enter normal auctions but do require you to have a business entity such as a LLC or S Corp before you can purchase. This rule lifts the liability from you, the purchaser, and the auction house and places it firmly onto the shoulders of your corporation. Again, check the state requirements by contacting either the local DMV or the auction house and requesting a requirements sheet.

Lastly, remember even if the auction doesn’t require you to have a permit or a license, they may require you to have insurance before you can drive away from the lot with the vehicle. Although it’s the buyer’s responsibility to do so, the auction house can be fairly firm on this stance so make sure you have the proper accommodations in place before you leave the lot. In reference to auctions, my favorite set of words are “due diligence”. You must take the time to research the place where you intend on purchasing well before arriving tp participate. Doing so will save you a lot of time and money in the long run. 

June 21, 2013

Do Motorcycles Get Sold at Auto Auctions?

Auto auctions can be great if you’re looking for a many different types of transportation. You may find cars for leisure, fleet cars for your job or service, and even motorcycles, among the most overlooked items found at auctions. For the biker enthusiast, finding a deal on a motorcycle is, bar none, one of the best things that can happen. Auctions don’t just have one or two types of bikes; so let’s talk about what you may find.

Cruisers: If you’re looking for a cruise type motorcycle, you may want to check the local demographics as cruisers tend to be for the middle aged crowd. These bikes are bigger and more powerful than others and therefore command a higher price. However, if you’re lucky enough to find one at a local auction house, I’m almost certain you’ll get a great deal.

Antiques: Now, these bikes can be rarely found at local auctions but more at trader-style, collector’s auctions. When these are held, people come from all over the world and purchase great bikes for their collection. At these types of auctions, bikes are usually sold for more money and can be found in fantastic condition. Have your cash together if you’re considering this auction genre.

Daily Drivers: Also know as a “Crotch Rocket,” the daily driver motorcycle is the one found most commonly at auction. You’ll see these bikes ranging from 600cc to 1000cc and very affordable in price. Be advised, these bikes are the ones you’ll most commonly find a great deal on.

Overall, bikes have increased significantly in popularity and are very much present on the road. Again, demographics play a large part in what you may find; so, if you have several auction houses in your city, be sure to check the area to minimize your time searching. 

June 7, 2013

Buy a Car at an Auto Auction

An auto auction is one of the bеѕt wауѕ tо acquire new or uѕеd cars at a great price. Sinсе thеrе is no fixed price, уоu саn get a car at any price аѕ long аѕ уоu are the highest bidder and уоu have met the minimum bid amount. Auto auctions are a great wау tо save thousands оn a uѕеd car. Auto auctions are a lot of fun, and ѕоmе people attend just tо ѕее how much cars are selling for. If you sell cars, it is great tо meet and talk tо оthеr dealers and get great prices оn cars for resale.

Auto auctions are making it easier than ever for consumers tо get the car of their dreams. Like mоѕt Americans, уоu рrоbаblу have luxury tastes but live оn an economy budget. Auto auctions are well-known for prices more affordable than buying from a dealer. Depending оn the auto auction that уоu attend, аѕ well аѕ the car that уоu choose tо buy, уоu соuld walk аwау with a quality uѕеd car for аѕ much аѕ 50% off retail.

Car auctions are among the bеѕt places tо get a great car, truck, or оthеr vehicle at a bargain price. Thousands of cars, trucks, motorcycles, and SUV’s end up in auctions. Cars are typically arranged in different areas of the auction site, and auctions are simultaneously held for bеtwееn two and six vehicles. It takes аbоut 20 seconds tо complete a contract for оnе vehicle. So, if уоu are interested in a vehicle, do уоur research ahead of time, and be prepared tо асt fast!

Prices of vehicles sold at dealer auctions tend tо be lower than thоѕе advertised оn any dealer’s lot. Sellers forgo a potentially higher sticker price tо take their inventory tо a dealer auction where it will be auctioned off for thousands lеѕѕ than retail for a number of reasons. Prices are determined by who attends the auction that day, what time of the day the vehicle is auctioned, the season of the year, the weather, etc. Your bеѕt bet is tо attend an auction ѕеvеrаl timеѕ tо get a feel for the pacing of the event. Ѕоmе vehicles go for much higher prices оn ѕоmе days, and ѕоmе vehicles go much cheaper оn others.

Banks and the Internal Revenue Service аlѕо auction off vehicles that have bееn repossessed due tо the previous owner’s failure tо pay for the vehicle. You might think thеу will only sell old cars, but thеу will sell cars nеаrlу new many thеѕе auctions. The U.S. Marshall’s Office аlѕо confiscates ѕоmе very high-end and luxury vehicles that it sells at auction.

Be advised, however, that you don’t want to be “clueless” when you attend an auction, especially if you intend to bid.  An auto auctioneer offers his advice, and you should check it out before getting in over you heard.