Are You Ready
Live Auction sales move along fast. That is one of the reasons why I told you to do your research. You have checked out 4 or 5 vehicles, you know what kind of equipment they have, you have heard them run and you have also have a pretty good idea of what the vehicle is worth. Decide how much you want to pay for each choice and then you are ready to proceed.
- First of all on sale day you want to go into the office and get a bidding card. The office staff will ask you for your drivers license so they have your proper spelling of your name, address & phone number. This is important because if you are successful in purchasing a vehicle it has to be transferred into your name.
- Also you will want to pick up a catalogue of the vehicles being offered for sale in the catalogue. Each vehicle will be listed. Disclosures such as damage x-rentals, x-lease, taxi, police cars, out of province, etc., will be disclosed in the catalogue so make sure you get one. If the vehicle is not in the catalogue pay attention to the announcements the auctioneer makes on the car or ask the office staff if there is a declaration on the vehicle, prior to sale time.
All the vehicles with auction numbers that are in the yard on auction day will be driven through the auction ring. This is where the actual auction takes place. The auctioneer will ask for a price if no one bids he will back up to a lower price until he gets a bid. once he gets an opening bid he will ask again for a higher price until all bids are in. (Now if the vehicle is unreserved, it will be sold to the highest bidder.)
If the vehicle is a reserved vehicle the auctioneer will get the highest bid and ask the owner if he will accept the bid. (If the owner accepts the vehicle is sold.) (If the owner does not accept, the auctioneer will say that it takes more money.)
At this point you are free to ask the auctioneer or ring man how much it takes to buy the vehicle.