Are seized car auctions worthwhile?

Question

I've heard they're so dominated by dealers, a private buyer looking to buy a car to flip stands little to no chance.

Are these auctions a waste of time for someone without the resources of a large dealership?

Answer 1

Be very careful, these cars are often thrashed, with maintenance and repairs often neglected, they are hard to test in an auction complex, and the auction houses reports are often wrong, I have seen one car thats report said the trans was perfect, start slipping as the new owner drove out the gate, unless u have someone who is a mechanical genius and can find faults in a car without it running or moving, be prepared for repair bills.
When I buy from the auctions, I first consider what I would pay for that model car privately, I then remove the cost of any repairs I can see on the auction car, I then delete another $800 for the cost of replacing a motor or trans, (worst scenario.) and wont bid over that figure.

I have found the best way to buy a car for resale is: local papers, you can test drive them, owner has all repair/maintenance records, and are open to offers, takes longer but does increase your profit at the end of the day
E-bay, but don't just look at the photos, arrange to inspect the car, stay local, transportation is expensive.
The last 2 cars I have bought on e-bay, and am happy with both.
Car yards, check their trade ins that they are selling on, but don't buy at their price, last car I bought from a yard they wanted $2000, I could buy a tidy one on the road for $3600, this one needed $1000 worth of work, I offered $1200, after an hour of bartering I got it for my price, spent the $1000 and sold it on for $3800, but did spend 1 month of my spare time getting it ready for sale.
I have been buying and selling cars as a hobby for 30 years, there is very little profit to be made, a poor choice can see you selling the car at a loss, be very careful.

Answer 2

Well, they could be very usefull , Car-Auction has a database full of thousands of different repo cars http://carauctions.deals-guide.com/... , you will find great cars in your area could save you money