There seem to be auctions everywhere. We watch them on TV and many of us use ebay regularly. Entertaining and useful, they certainly are, but have you been missing something? What's it like going to a real auction? And what about the auction with the scariest reputation of all? Yes, that's the one. We're talking about going to a car auction.
I went to my first car auction in 1976, with my husband-to-be. We took an S-type Jaguar to sell and it sold for what seemed like an incredible amount of money. It got an unreliable, old heap off our hands and we were hooked on car auctions from then on. Nearly thirty years later we're still using the same auction, mainly to sell cars, but we have bought a few bargains. We've also made one or two very bad choices, but I would say that generally our experience of buying this way has been positive.
If you're going along, intending to buy, it's a good idea to take an observant friend, as sometimes you need to be in two places at once. Always arrive early. Our favourite auction is held in the evening, so go straight from work, buy a drink and a bacon roll, and start looking around.
There's
no sales catalogue for general auctions so take a pen and paper along. Make a list of the cars you're interested in. Note the lot numbers and a reminder of the condition, mileage and so on. You'll find it hard to remember many details, especially if you're looking at several choices. Other people will be poking around and you can usually overhear, as well as watch what interests them
Once the auction begins, watch the car drivers carefully. For a start, you'll be able to work out which order the cars are selling in. It doesn't always follow the lot numbers so don't get caught in the toilet or at the burger van when a driver unlocks and tries to start a car you're interested in. You can learn a lot from this point onwards. Not from the drivers, who probably play Poker a lot, as their facial expressions won't give anything away, but you now have your chance to see and hear the car running. Follow it to the sales area. The driver will normally have to wait in a short queue here, with the engine running, and you can ask to have the bonnet and boot opened, or look underneath to see what's loose or leaking. While you're doing all this your observant friend is watching your next choice being started up.
By now the car you've been following will have arrived in front of the auctioneer. He will quickly describe the car and tell you if there's any car tax or MOT included in the sale. If you're lucky his microphone will be working, and you will understand what he's saying! It's easy to bid. Just put up your hand. If you're too shy to do this the auction will ask a member of their staff to stand with you and bid on your behalf. It's best to arrange this at the market office before the sale starts. It's a free service so don't worry about asking for help. If you're successful with your bid a member of staff will take your name and address and ask for a deposit of at least £200. You must pay the balance (and take away your purchase) by 1 pm the following day. You can pay with cash, building society or bank draft, debit card or credit card. If you use a credit card you'll have to add a 2% surcharge. You must also pay the "buyers charge". This varies according to the value of the car you buy. On any car costing up to £1,000 you will pay £30 (including VAT). If you're spending over £5,000 add £65 to the bill. You can find out the current charges form the office or by 'phone before the auction.
Selling is very simple. Drive your car into the sales parking area, which is usually clearly signposted. Make sure you remove all your belongings from the car, including the tax disc, and lock the car. Go to the market office, where you'll have to fill in a simple form. Once the staff have checked it over you pay £20 and hand over the keys and all the cars documents. You must have the log book, but car tax and MOT don't matter. This regulation may change soon, so check what's needed beforehand.
If your car doesn't sell, you can leave it at the auction (at your own risk) to be entered into the next sale. There's no further charge but it's usual to drop your reserve a little as it's unlikely to attract more interest second time around. The auction staff can advise you on a guide price for your car, but won't guarantee it will sell for that price, so don't count your chickens! If your car has sold you'll get a cheque, by post, in about ten days time.
Occasionally you will hear the auctioneer make a "provisional sale". This means he has accepted a final bid below the reserve price. The auction contacts the seller, usually by 'phone, to see if they will agree to the lower price. Usually the answer is no, but we've been lucky twice in the past.
The biggest worry for most people is what happens if you buy yourself a disaster? If it was sold with no warrant (which is a large notice, stuck onto the windscreen. Take note when viewing) then it's bad luck and you're stuck with it. I once bought what seemed to be a lovely car, but it only had two gears that worked. Even if you've bought a car with a warrant you have to complain right away. It's no good driving off home and ringing up in the morning. It's too late. Take it for a few turns round the car park. Try the gearbox and brakes. Wait to see how hot the engine gets before you leave. It might just go on getting hotter and hotter. (Yes. Been there too!). Explain the problem to the auction staff. An examiner will determine whether you can get your money back or negotiate a lower price to cover repair costs. His decision is final.
Now you can go along to an auction and see for yourself. If you feel it's for you, do a bit of homework first. There's no doubt that it's easy to get caught out. Attend the same auction five or six times and you'll start to notice certain cars appear every week. Avoid these. Watching regular buyers is revealing. They all tend to favour particular types, or price range of cars. If a car is good enough for them then it's probably going to be good enough for you, with a little money spent on it. Remember that a lot of them make a living buying cars here to sell on quickly. They don't intend to spend a lot on repairs and recognise a good thing when they see it.
Our local auction is held twice a week. There are also specialist sales for commercial vehicles, four-wheel drive and diesels and sports and performance cars. They are all wonderful places for people watching. You will see every stereotype you've ever imagined and sometimes it's hard to keep a straight face.
Have a look. It's a cheap evening out, but don't get carried away!
How helpful would this review be to a person making a buying decision? Rating guidelines
Detailed review but i think that you should have told people that it would also be a good idea to take someone along who really knows their stuff about cars so that they are not left with a lemon
Dec 10th, 2005
very helpful by (83%):
helpful by (15%):
somewhat helpful by (2%):
