Best Auction Strategy

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Tue 12 Nov 2002 00:19
Best Auction Strategy - PB
I'm off to an auction again this week. There are 8-10 cars I want, of the same type, within a reasonable range of spec/mileage/age. I have my favourites, including the first one through but most would be OK.
I've plenty of auction experience but not of this situation and I've not bought this car before - so I have only the black book to go on.
The more I think about the strategy the more confused I get. Go early because everyone is holding back? Or not because the auctioneer knows he has to set a price level. Go late when people have bought what they want, or not because everyone else has waited?
Any ideas?

PB.
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Tue 12 Nov 2002 00:40
Best Auction Strategy - Steve G

Of the hundreds of cars available its very easy to wittle it down to a few which match your criteria (colour/condition/spec/mileage e.t.c). Condition will be a big factor because most will have some minor scratches/dents.The toughest decision will be whether to buy a really clean car (which everyone else will want) or a car needing minor repairs which fetch much less interest.
The best strategy in my opinion would be go for the model version you really want. As long as you are buying at trade price (or thereabouts) you cant go wrong.
Late vs Early, - most cars have a reserve so it does'nt make a huge difference.
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Tue 12 Nov 2002 11:43
Best Auction Strategy - PB
Thanks for the advice. Actually it's the BCA Saab Finance sale in Nottingham tomorrow. There's a big closed Saab sale on there today with much the same stock and I'm wondering how that affects the volume of buyers.
With so much stock to shift I'm hoping they will set reasonable reserves. I'll probably put a couple of early bids in before the ones I most want so the auctioneer knows I'm there.

PB.
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Tue 12 Nov 2002 12:50
Best Auction Strategy - Dynamic Dave
With so much stock to shift


Just make sure they're not shifting them as one of the previous posts suggested: www.honestjohn.co.uk/forum/post/index.htm?f=2&t=85...3
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Tue 12 Nov 2002 16:32
Best Auction Strategy - PB
>>Just make sure they're not shifting them as one of the previous posts suggested: <<

Nottingham seems to have far more free space per vehicle than Blackbushe so I hope not. They do seem to compete to see how fast they can get from the hall to the parking lot though.
PB.
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Thu 14 Nov 2002 17:33
Best Auction Strategy - PB
What actually happened... the early ones were cheaper than the later ones. The first few went for average book price, the last few just over top book.
PB.
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