How to sell your vehicle at auction
Selling your car at an auction is a great way to simplify the process and avoid having to meet with numerous people at your home or business. The auction will provide you with a captured, qualified audience waiting each month to buy cars. You will have the ability to set minimums on the car and even watch as the vehicle is sold on the day of the event.
However, in order to ensure that you sell the car there are a few things to consider before you bring the vehicle in to sell. First, you should really consider the minimum that you put on the car. We all know that we want to make the most possible, but setting the price above it’s value is a sure way to have a car passed over during the sale. Also be aware that the car’s condition is the biggest factor in where the reserve should be set. The best choice is to set the reserve just below the market value. Then it has room for the bidding to bump up the price. Having a vehicle with a minimum which is too high, can result in the reserve being lowered over several auctions in an attempt to sell. The result of this is that the car becomes “stale” and the buyers see that it has been passed several times, which in turn lowers it’s “perceived” value. The best time to sell a vehicle is at the first auction, when it is fresh.
Second, make sure to consider the presentation of the car. Clean the car well and detail it if possible. Even if the vehicle has problems or is older, a good cleaning can really boost it’s appeal. Airing up tires, making sure the battery is good and the car starts is essential. The better the car looks the more it will fetch at the auction.
Finally, be prepared to let the car go. That’s right we know you love your car and think it is worth $1million, but some times it’s time to take the money you can get, instead of waiting for the money you can’t get. We have seen a number of cars where the highest offers they got were at the first sale. But the owner wanted more money and ran the car again. The next month the offers get lower as the car gets “stale”. Know when to say when and sell the car, before it sits for months.
So be prepared when you bring in your car to the auction. Have a good price, clean the car, be sure there is a clean title and be prepared to let it go when the time is right. Selling at auction can bring you more money then you were anticipating and is an easy way to sell your vehicle each and every month.