It’s true. The Auto auctions or on-site auction are found to be the best medium to get the vehicles at reasonable rates. The vehicles presented in the auction from the different type of sources such as impound lots, individuals or dealerships.
With technology advancement, the online bidding has become too common wherein the people can bid either before the auction or exactly at the time when the auction is going on. All the different types of the auction have their own benefits based on the circumstances and customers’ preferences.
Take a look at different types of the auction and the advantages that bidders will reap through them:
1. Onsite auction bidding
It’s an old age technique of buying the car at auction where the customers have to be present at the auction to bid and buy the vehicle. Also, the auctions are organized in a particular time and place, which demands the customers to make adjustments to their work or responsibilities. That’s actually difficult for the modern buyers. But, visiting the auction in person, offer some advantages as well.
-
The visitors can view the vehicle in person so there will be no surprises at the end because what’s represented about the vehicle in the photos and details by the auctioneers may mismatch with the reality.
-
Getting a chance to inspect the vehicle is a golden opportunity as the visitors can make sure whether the car on which they are going to bid works properly or not. Many times, the tempting deal proves to be a costly mistake, if the vehicle is not checked from mechanics’ point of view.
-
The visitors can get a feel of the vehicle and accurately judge its condition before bidding.
2. Pre-auction bidding
There are some auctions that provide flexibility to the bidders to bid for the listed vehicles before the auction is going to be organized. The absentees can bid on the favorite vehicle at the pre-set maximum price, which benefits the people in many ways.
-
It alleviates the need to leave the important work and spend so much time to be available at the auction at a definite place and time.
-
You will get to know about the vehicle’s maximum bid price in which you are interested in.
-
Even if the bidder is absent, but they won’t end up paying more than the vehicle’s winning auction bid price. The bidder needs to first check the auctioneer’s policy because, at some auctions, the absentee bid begins at the maximum bid. So, beware and protect yourself from falling into the outbid trap.
3. Live auction bidding
This type of auto auction is for modern customers who like to do everything at the fingertips. Exactly, this is an online auto auction with live streaming wherein the attendees have to available online and can place their bid online. The software streams the bid in the real-time, which every attendee can view on their screen. The advantages it offers are:
-
No need to be physically available on-site to bid on the vehicles in the real time.
-
Bidders can take quick decisions on the spot to bid for a vehicle they are confusing at.
-
The chances of bidding on the wrong vehicle are less as customer need to click on the bid button physically.
Conclusion
Be it wholesale car auctions, or private auto auction, the auto buyers can bid differently depending upon the type of the auction, which suits their needs and style. All types of auctions have their own pros and cons. So, pick the one that helps you get the best deal.
Moreover, if you are new to buying the vehicle from an auto auction, moving ahead with the on-site auction is the best bet to place, else the pre-auction or live auction bidding would be a perfect fit for you.