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Auto auctions are a
method of selling new, and most often, used vehicles based on auction
system. Auto auctions can be found in most nations, but are often unknown to
most people. This is, such as in the case of the United States, because this
a protected source for used car dealers. In other countries, such as Japan,
auto auctions are well known and used (indirectly) by most people.
Japan
Auto auctions are the most popular method to sell used vehicles in
Japan. Most customers are Japanese seeking a cheap vehicle to start with or
replace their older vehicle. Also there many also trying to sell their
vehicles. Individuals though cannot directly use auto auctions, but must go
through those holding auction membership. In Japanese law, only dealerships
may become members to auto auctions. The way the system is set up allows
people to have access to information, but keep the auctions orderly with
only professionals actually able to bid.
A small percentage of the dealers that are members of Japanese auto
auctions are also used vehicle exporters that most often use the auto
auctions as their primary source of used vehicles. Other than these
exporters, most members are used vehicle dealership that sell in Japan and
are used by Japanese people to find a car they want.
In Japan there are over 30 well known auto auction groups and over
200 auto auction locations throughout Japan.[1] Additionally, there are more
smaller auctions held for specialized items.
[edit] United States
In the USA, auto auctions are relatively unknown to the public at large, but
play a major role as a wholesale market for second-hand vehicles. Most auto
auctions are closed auctions, meaning only dealers can use them. There are
also auctions that are open to the public. These auctions are a primary
outlet for financial services firms to dispose of their large volume of
off-lease returns, for rental and other companies to sell off their aging
fleets and for car dealerships to dump trade-ins or other unwanted
inventory. Some auctions in the United States are used by banks, the IRS,
and other government agencies to sell vehicles that were repossessed for
failure to make monthly payments or pay taxes, or were seized by the FBI,
DEA, or the police. Also, there are some that sell US Government vehicles.
Finally, there are those catering to the salvage market where insurance
companies sell totaled vehicles.
Online auto auctions are also growing in popularity. One of the most
popular online car auctions is eBay. On eBay Motors, any user can create an
account and put their vehicle(s) up for auction. There is usually a small
fee associated with selling your vehicle on eBay. As of September 2008,
there is a $20 insertion fee, which is waived for the first four listings in
a 12-month period (relisted vehicles using the official eBay Relist feature
do not count toward the listing count), and a $125 successful listing fee
charged when the listing receives bids above the set reserve price ($100 for
the 5th+ listing) for passenger vehicles [2]. If there are no bids on your
vehicle, or if none of the bids meet your reserved price (setting a reserve
price will cost you $7 per listing), you will not be charged the successful
listing fee. Buying a car on eBay is even simpler. All you need to do is
create an account, then proceed with bidding on your desired vehicle. Some
automobiles will have a 'Reserve Price' which is the minimum price the
seller will accept for the vehicle. If the reserve price is not met, the
vehicle will be considered unsold. The bidding on some cars, particularly
popular cars with a low reserve, can become fierce. Bids may be entered up
to the very last second.
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Insurance
Auto Auctions,
Inc (IAA) is the leader in total-loss and commercial remarketing
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Copart
auctions used and
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At Brasher's
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Auto auctions are
a method of selling new, and most often, used vehicles based on auction
system. Auto auctions
can be found in most nations, but are often ...
en.wikipedia.org/wiki/Auto_auction
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With over 20 years of
auto auction
experience, Billy Nuckolls has put together the finest of all auctions
in South Florida. Buyers and sellers can have ...
sflaa.com/
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9 Oct 2009 ... Each year
approximately 300 government
auto auctions are
conducted throughout the United States and Puerto Rico. ...
www.goarticles.com/cgi-bin/showa.cgi?C=2062771
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Auto Auction
listings -- Automotive News. ... Auction Name: • Columbus Fair
Auto Auction
... Auction Name: • Greensboro
Auto Auction
...
www.autonews.com/section/auctions
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