You have probably heard about car auctions or seen them on TV, so it is likely that you have a brief idea of how they might go. However, if you are looking to participate in car auctions and haven’t a clue what to expect, this one’s for you. Car auctions have been growing in popularity and have become a sure way to secure a decent set of wheels for a reasonable price. Here is what to expect at car auctions.
Registration
You are required to register before each auction you attend. This registration generally entails providing various documents, such as proof of identity and address, and a refundable deposit of R5 000 per auction. Once you are registered you will be issued a bidding number, allowing you to participate at your leisure.
Spectate First, Participate Later
All car auctions follow a set of processes, with the majority of the participants being familiar with the game. Although not mandatory, you can attend a car auction as a spectator before participating. Many people do this to familiarize themselves with the environment and processes of car auctions, in preparation for diving right in. This is a good way to get comfortable in the thrill and get a feel for what to expect.
With Your Own Eyes
You have the opportunity to physically view the auction cars a few days prior to the actual auction. This is a great time to get a good look at the car in question, as you are unable to test drive auction cars. You can request to see the car’s service history and will likely be told about any complications accompanying the car. This is an opportunity for you, as a potential buyer, to draw your own conclusions regarding the value of the car and what you feel it is worth.
Let’s Talk Bidding
With a successful registration and a bidding number, it’s time to bid. The auctioneer will highlight the car and name a price. The prices are generally increased incrementally while bidders raise their hands when a desired price is named – easy as that.
We will save the processes that follow placing the winning bid for another day. This concludes our runthrough of what to expect at car auctions, hopefully offering some direction on the matter. To learn more about car auctions, get in touch with Motus Auto.
