Steer clear of late night or weekend auctions, as this is when the majority of people attend and the more people you have at an auction, the higher the prices go. Before you go to your first auction, make sure you do your research to see where on the car you should be looking for damage.
You can’t check out the vehicle by a test drive, so make sure you have access to a reasonably priced mechanic or you yourself may be handy with tools before you raise your hand and place your bid.
You are bidding against people that do this for a living and are professionals, so remember who you’re dealing with.
When the auction hammer comes down, you own the car. When you buy privately, there is usually a legal cooling off period to let you change your mind. Sometimes the reduction in purchase price comes at a price, so it’s important to keep that in mind.
The Most Important Tip
If you’re on a strict budget make sure you stick to it. It’s easy to get a little carried away.
The source of the cars is the main force behind their great value. Liquidators, governments and rental companies need to “move metal” as the saying goes. That means missing out on an exorbitant profit margin. That is the advantage for buyers. You just don’t get this kind of value at a dealership or private sales yard because the seller is without doubt looking to achieve the highest profit margin possible.
Here at Car Auctions Perth we stock cars, motorbikes, four wheel drives as well as other vehicles. Our low overheads ensure you get the best value for money and we have no concealed costs such as buyers’ premiums or administration fees. So if you’re in the market for a new vehicle but don’t want it to cost you the earth, auto actions are the place to go and grab yourself a genuine bargain. Car Auctions are where you can save thousands of dollars on your next vehicle purchase. There are a large variety of makes and models presented, ranging from sedans, wagons, hatchbacks, 4WDs and trucks to the vintage, prestige, sports and luxury cars.
Do all items offered for sale have a Reserve Price?
Auction items are offered for sale in two ways. Unreserved means that the item will be sold to the highest bidder. Alternatively, an item that has a reserve price represents the least amount of money the vendor is prepared to accept. No items are accepted if the reserve price is above what we consider to be realistic.
How are items offered for sale?
A lot number is given for each item up for bids. They are then sold in numerical order with number one being the starting point. As a guide, motor vehicles take one to two minutes to sell, trucks two to three minutes. Times vary on wide-ranging goods and on-site auctions depending on what is being sold.
What is a buyer’s number?
When registering, you will be given a buyer’s number which is of use only for the sale that you are currently attending. You will need to be allocated a new number for each sale you are present at.
If you aren’t sure whether you will purchase any item, you should register anyway and receive a buyer’s number. You won’t be able to bid without it and if you don’t bid, there is no penalty involved.
How do I go about bidding?
If you are unsure about how the auction system works, it would be wise to attend one or two different sales before you plan to purchase. This will ensure you are ready and can bid with confidence.
Make sure that the auctioneer or one of the assistants sees that you have placed your first bid. A lot of people just hold up their hand in a clear and very obvious fashion. Once you have finished your first bid, the auction team will keep a good eye on you to make sure you don’t miss out.
Typically, bidding is in two hundred dollar increments but the auctioneer can elect a higher or lower amount. It is the auctioneer who decides how much each bid represents.
Once you have made a bid you cannot withdraw it. Once the bidding starts, please make sure you are focussing and paying attention all the way through until the item has been sold. Listen carefully to what the auctioneer is saying and try to be observant of the communication between the auctioneer and other people bidding.
What happens when my bid is successful?
If you have the winning bid, the item will be knocked down to you. Your purchase number will be recorded and the auctioneer will then continue on and start bidding on the next item. You are then able to finalise your purchase with the cashiers if there is nothing left that you wish to bid on. If it is a vehicle that you have bought, you will be approached by one of our staff to whom you pay your deposit which is five hundred dollars for general and Government car sales, with one thousand dollars for prestige car sales. Salvage vehicles require a deposit of fifty percent for items sold up to one thousand dollars, five hundred for items sold between one thousand and ten thousand dollars and ten percent for items sold over ten thousand dollars. Make sure that you have the deposit required for the sale that you’ll be attending.