The public generally bids on cars based on the prices they've seen in the newspaper or an auto trader publication. The bids start at a much higher amount than they do at the dealer only auctions. Dealers tend to go by the book value because they all intend to re-sell the car. The bids start much lower. Another negative to auctions is that you will never know the true reason the car is being sold or how it was treated while in use.
Auctions require a very keen eye and can be risky.
Mike Mike Owens is Service Manager of Fred's Foreign Car Service of Dallas, Texas. All rights reserved. Copyright 1997-1998 CyberCar. All rights reserved. All rights reserved.