Finding Seized Car Police Auctions
By car-guy. Filed in public auto auctions |Tags: seized car police auctions online auction auto public
If you’re an automotive professional, or just someone looking for a great bargain, car police auctions are a tremendous opportunity to find exactly the great deal you’re looking for. Thousands of cars are auctioned annually, and you can purchase many of them for a tiny fraction of their retail value.
Police Auctions deal in property that’s been seized from criminals, or has been abandoned or otherwise fallen into police custody. The property is cataloged and held for a specified time in order for the original owners to claim it and if no claims are made, the property is sold.
The type of goods found at these auctions varies widely and you can usually find both one of a kind unique items as well as large commercial lots of merchandise. Of course, you usually also find cars, trucks, and boats.
Car Police Auctions can be either live events or online auctions. They both have their advantages and weaknesses.
Live Auctions – On the plus side, live auctions usually have fewer bidders and they provide a preview time so buyers can personally check the condition of the cars and spot the specific cars that warrant more research. Once you’ve spotted the cars you like, you can use your cell phone or laptop to go online and check the value of similar cars at eBay Motors and various used car sites like AutoTrader.com. Sites like these will help you determine the true market value of a car as well as give you a feel for the amount of demand there is the market. It’s vital that you understand all of this information in order to determine what your highest bid should be for any given car. You must be ready with all of this BEFORE the auction starts.
Car Police Auctions usually have no minimum (reserve) bids. This means you have a chance at some very high profit deals. A live auctioneer will try to open bidding at a certain price, if no one bids, he will be forced to come down and keep coming down until someone bids.
On the negative side, car police auctions are usually not well publicized and finding them can be a real challenge. Most local police websites are not updated regularly and these sorts of sales are usually only publicized in the classified ads of a local paper. This general lack of publicity makes finding these events difficult, but it also means there is usually limited competition.
Online Auctions – These are easier to find than live auctions but the rules and methods used vary from site to site, so get to know the lay of the land first. Since you’re already online, you shouldn’t need to be reminded to do your market research first!
Please note that ALL car buyers should always check the title of ANY car they're considering, even if you're buying from a dealership. Get a FREE VIN Check from AutoCheck.
One way to find local police auctions is to call the business office of your local police station (NOT 911!) and ask about upcoming auctions.
You can also sign up to a subscription service like Gov-Auctions.org for up-to-date listings of auctions in your area.
Car Police Auctions can require some real effort to find, but the profits you can make more than justify the effort. Do your market research, know the true value of the cars involved and you will certainly find exceptional values at these auctions. Police auctions are a hidden gold mine for the smart car buyer.
Don't forget the bible of car values, the Kelley Blue Book Used Car Guide - a must-have for anyone serious about cars.
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Public Auto Auction - Bargain or Bust?
