How Auctions Work


It’s becoming clear that more and more people are becoming interested in buying or selling their vehicles through an auction. So, what exactly is a car auction?

Car auctions that deal specifically with vehicles of all shapes and sizes work in a very similar way to an auction for any other product for sale. Car auctions can be either online or in-person events where a group of people looking to buy or sell vehicles come together and bid on how much they are willing to pay for them. Vehicles are listed with a starting price and people place bids on how much they are willing to pay for them. The person with the highest bid wins and earns the right to buy it for the highest bid price.

There is a distinction between public auctions and closed auctions. Public auctions are, naturally, open to the public. At these auctions you can find a wide variety of different makes, models and ages. Typically, prospective buyers at public auctions will be able to view, examine and ask questions about vehicles before the auction begins to familiarise themselves with the vehicle they are interested in buying. The rules for auctions are straightforward and easy to understand. If you find a car you’re interested in buying, all you need to do is place the highest bid during the auction process, pay the specified amount and then enjoy your new vehicle!

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Auction Nation is a division of the BlueSpec Group, the leading service provider in outsourced procurement solutions for major insurance companies including FNOL (first notice of loss), auto body repair, accident management, independent insurance yards, salvage management, and vehicle logistics.


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