Posted: 12/26/2003 3:44:51 PM EDT
Anyone ever been to one of these?
Can ya get good deals there?
I aint lookin for no ferrari or lambo for $500. Just wonder if those auctions where as nice as the "TV" says.
I go to them all the time. So far I've bought a CRX, a dopers high roller CJ-5 with 44's, and I just bought a 1993 Toy 4x4 pickup with a cracked head.
Here in El Paso, it usually means a doper or alien smuggling vehicle, complete with hidden compartments and usually seized at the POE.
90% of these vehicles are scrap. It is usually a thrashed, high mileage American truck, car or motorhome. You also normally can't view the car or truck running, so you don't know if it will run after you buy it, so you need to factor that into the cost. If it is a newer SUV type vehicle, the task force usually seizes it and uses it for themselves.
The other two vehicles I bought at the Sheriffs auction. They can be dope seizures or seized to satisfy a lien, and some of those are in very good shape. I bought the 93 Toy for $2150 with 93K miles, but had to put a head on it. It is now my newest range vehicle. I'm in the process of ditching the cap, painting the truck, and getting a new cap with no windows.
If you scroll though the album, you'll see my high roller CJ which I paid $6000 for and sold for $7400. It had a Buick 350 in it. It was scary to drive, though.
The bottom line is, dealers show up at these auctions and they know the bottom line. Once the bidding cuts into potential profit, they stop bidding.
What that means is, you aren't getting a late model 4x4 for $500. You will probably save some money, but it is not easy pickings and you must do some research ahead of time on approximate value of whatever you're interested in. I usually use the Trucktrader on line to guage approximate vehicle value.
Sometimes it just depends who shows up. They may not be interested in what you are interested in and you can score. With the Toyota, I was only bidding against one guy, and he was a dealer. If he wasn't there, I probably would've had the truck at $1200.
Thanks omar. Yeah, your right. I figured that dealers would be there to try to purchase something. Since they generally have a bigger budget, they probobly always win.
I was just curious. Have seen it in the paper and on tv. No one really knows anything, or even knows when they are or where. Almost like its a secret or something.