Jump to content
SAU Community

Buying at Auctions

Sneeza

By Sneeza,
in Western Australia

 Share

Recommended Posts

Sneeza Grand Master

Sneeza

Posted
Posted

Hi

As most of you know my car was repossed because the loser I bought it off used it as colateral on another loan....REVS etc etc (no comments about "didnt you ring REVS" please)

I would like some advice on buying the car back at the auction. It will be coming up for sale in a couple a weeks and the case manager at the bank said it either goes to auction or for public tender. (most likely auction).

Does anyone know how these auctions work, what would be the best approach for me? I have heard you can ring the auctioneer prior to auction day and purchase it before it goes under the hammer... is this true?

Any advice would be greatly appreciated

oh - and if anyone in this club buys my car - I have a spear gun.... :) hahhaa

thanks everyone!!

Link to comment
https://www.sau.com.au/forums/topic/30158-buying-at-auctions/
Share on other sites
Pva_Glue Grand Master

Pva_Glue

Posted
Posted

well 1st ting you can do is

Find out exact information about the car: aution day and reserved prices etc..etc.

then go to auctioneer b4 the sale date register you as buyer... take cheque book so if you win you pay small deposite for the car etc...etc.

since you know the car you know how much its worth it eactly so set yourself a reserve price then all you have to is to bet on it.

I hope that helps.... with tricks of hackling and that... you can read about it on web site... just do general search.

caminperth Grand Master

caminperth

Posted
Posted

Liz - find out where it's being auctioned, ring them and put in a tender. If it's above the reserve price then you should get it. Check with the auction place when you ring them - they should be able to tell you everything.

Good luck..

IMACUL8 Veteran

IMACUL8

Posted
Posted

Sneeza

If you get the car, doest that mean you have had to pay DOUBLE for the car??????

So will will still owe the bank for the original loan u took to buy the car, plus the additional cost of getting it back...

Geez i feel for you, i hope it all works out for you.

Daniel

Sneeza Grand Master

Sneeza

Posted
  • Author
Posted

Yes I will still have my original loan - but the reserve price for the car is really low, so it wont be double.

I am trying to do a deal with the bank - but they reckon they cant let me buy it back direct from them (no auction) unless the loser gives them permission - cause its his debts. Which is phucked... always protecting the bad and not the innocent

sexzila Veteran

sexzila

Posted
Posted

Well, firs you need to know whos the auction house...

You show up around 5 times before to study the crowd...

Than get into the process.....

See how many people detail the car...during the inspection day or two earlier.......

Set your budget...lots of people don't do this than loose double in the moment...........

dont start the bid........don't over do it with high bids....

slow the bid down to 100's or 50's.............

The best is to wait to the end and jump in last if you have a good budget..............

If you want the car than thats easy..............

Above all inspection is most important......

Calculate the fees and transportation like.....towing service or get temp licence for 24hr..........

well if you want to know more PM me :thumbsup:

al

Red Sky II Rising Star

Red Sky II

Posted
Posted
I am trying to do a deal with the bank - but they reckon they cant let me buy it back direct from them (no auction) unless the loser gives them permission - cause its his debts. Which is phucked... always protecting the bad and not the innocent

Liz, the Banks usually won't do a private deal as they have a duty to get market value for the car otherwise they can face action by the original customer - market value doesn't necessarily have to be a high price though.

If you can establish market value and offer them that then they may be interested otherwise it will get too hard for them and they will auction it.

I deal with banks and auctioneers all the time (do to me being a liquidator by profession) so have had dealings with them. If you find out the who the auctioneer is PM me as I may know them (there are a few in Perth I use all the time and get on well with).

Good Luck

Al

NO_RSPECT Mentor

NO_RSPECT

Posted
Posted

yeah al we knew the market value that the auction place has set for the car and the reserve price they have advised the bank. thats the reason Liz went to see the bank privately before it went to auction.

hope you can help Al.

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share
Go to topic listing


  • Similar Content

  • Latest Posts

    • AnimalGarage
      spot the stagea

      By AnimalGarage · Posted

      I can get more photos of it here soon and I plan to make a thread detailing the process. I received the car this way and it sorely needs refinishing. That is probably the most appealing photo of it. Up close it is fading, cracked, and needs to be re-glued. Depending on their condition I'm on the fence between refinishing or making a new set.  Another angle hiding the pimples and razor pumps  
    • AnimalGarage
      Can you mount the ATTESA pump in other locations?

      By AnimalGarage · Posted

      According to this thread the RS4V with build plate RC40 comes with the R200 diff @ 4.083 ratio as well (mine has said RC40 denotation). We may need to check if the axle stubs are the same pattern as well. The auto subframes have longer axles. However I think yours being a later Series 2 as well, we should have the same bolt pattern for the diff stubs. Unless your upgraded rear also has upgraded axles. Either way, I would not be opposed to pulling the covers to check so I can inspect that  fancy rear core  Also I don't have HICAS. I don't believe that should change things but I hope the people here with heaps more experience than me can correct me if I'm wrong   Let me know if you want to attempt to make this work and I can get some pictures of mine from under the car. 
    • joshuaho96
      R34 25GT Engine Light 21

      By joshuaho96 · Posted

      It's not that straightforward. For example I have had this code because my ignitor/power transistor wires were unplugged. It knows something is wrong but has no idea what it means. If you want to actually diagnose this I recommend following the service manual flowchart for code 21. Ohm out the harness, coilpacks, inspect the ECU, etc. And again, it's entirely possible for there to be no problem at all but if you're running a different coilpack it'll trigger the code because it doesn't like what it sees.
    • GTSBoy
      R34 25GT Engine Light 21

      By GTSBoy · Posted

      If it (the code) wasn't still current, it should have gone away by itself by now. No, nothing it 10/10. But it is quite likely. Everything else to do with the ignition could still be responsible (which is wires and connectors). The car is an old piece of shit now, so all the wires and connectors are also old pieces of shit.
    • The Bogan
      SAU NSW - R U OK? Southern Highlands Cruise

      By The Bogan · Posted

      Lock me in mate, although I'm not sure if I'll be heading up from Goulburn or down from Sydney, either way, return will be back to Goulburn 
×
×
  • Create New...