How do you guys feel about buying at auctions?

[fartblossom]

I'm in line to get a nice bonus this March, and planning on budgeting about 9K towards purchase of a 67-72 daily driver. I realize that probably means a long bed, but I'm fine with that.

I attended the Leake auction last year here in Dallas, and saw a lot of nice 67-72's go for a fair price. Here's the one I wish I'd had money to bid on.

https://www.leakecar.com/auctionresu...ion=itemdetail

The reason it went at that price probably had to do with the non-conforming vin. It was registered in Alabama as a 90's assembled truck for some reason.

But still, I've seen a lot of nice deals go down at the auctions, especially on longbeds.

So do any of you guys buy at auctions? What are your thoughts about it?

[zeldman]

I have bought at auctions before. I usually go into the deal knowing I will have to do some sort of work to the vehicle to get it as I like it.

I have only bought 4 vehicles at auction, and I really didn't expect the vehicles to be anywhere near advertised, so when I find good things I am happy. Like the time the information stated that the vehicle had a 3:73 open differential, and it really had a 3:73 posi trac with new gears and bearings. That made me happy. But the transmission was really on its last leg. It barely pulled itself up onto the trailer, and it was advertised that it needed a transmission.

I bought a 72 Cheyenne one time. The paint was in bad shape, and the right rear fender had about 3 feet of bondo on it. (Ok, maybe more like 3 inches thick) But it was all complete, including all the A/C parts and all the trim inside and out. I payed 800 for it.(in 1994) After getting it home I found that it had just come from a front end shop. Everything had been replaced and it tracked straight as an arrow, plus all new brakes including rotors and wheel bearings.

I was real happy with that one.

So just make sure you know what you want and know what you are looking at. And don't fall into a bidding frenzy. Know how much you will spend on a vehicle and prepare to walk away if the bid goes above your set price.

[Greekdog]

It can be good. Just make sure you do plenty of research. Many people get caught up in the moment at auctions and make poor decisions. People bid on things in the heat of the moment and you might pay more than you would have in a normal setting.

Also remember their is typically a percentage you pay on top of the final price and also taxes. So even thought that truck sold for around 8k I bet the buyers premium was something like 10% plus the taxes depending on where you live. I live in California so it would be 10% plus our 8% tax. 18%x8k=1,500 right there. So tack on another 1500 to that 8k. It really adds up and no one ever talks about that.

To me its a 50/50. I would still look around locally for a truck if I was you. Auctions can be a real crap shoot.

[hugger6933]

I build late model wrecks and buy quite a few from auctions. I usually go to one at little rock every week, they normally have about 230 units per week . They have added several insurance companies and contracts recently so it has gotten pretty big ,it used to be every other week with around 150 in the sale. I think 11 units is the most I bought in on day and like the above said the fees are killer you HAVE to watch for them. The sale I attend thew fees run into the 21 to 27% range that gets in your checkbook quick! Normally with buying wrecks the drive train parts are good cause you almost never see a car get wrecked at a shop getting worked on, and for the most part when peoples cars/trucks are running good down the road they aren't thinking about trade right seconds before a crash. One of the best rules to remember is not to get emotions involved until you get home then you can cry and go crazy with your toy. If you get too attached before thew sale, it will cost you lots of money possibly. Good luck and have a little fun. Jim

[fartblossom]

Thank you guys for the feedback. I'll research the trucks I bid on next spring and give myself a maximum for each, with fees included.

[Possmguts]

Hate to tell what I bought mine for... But I bought it on a Buy Now on Ebay sight unseen and paid a touch under 5k, then had it shipped home 560 miles. So for under 6k I was very happy with my completely rust free perfectly daily derivable 67. I just couldnt leave well enough alone and its now coming off the frame to get a fresh once over. But all it really needed to get by with a daily was tires and some cleaning up of some wiring issues and a heater core...

[Possmguts]

Originally Posted by fartblossom

The reason it went at that price probably had to do with the non-conforming vin. It was registered in Alabama as a 90's assembled truck for some reason.

By the way.. Bama cars and trucks older than 30 years do NOT require a title.. but with the bill of sale and the registration I was in and out of the Title office in about 20 mins.

[Kennuck]

Originally Posted by fartblossom

I'm in line to get a nice bonus this March, and planning on budgeting about 9K towards purchase of a 67-72 daily driver. I realize that probably means a long bed, but I'm fine with that.

I attended the Leake auction last year here in Dallas, and saw a lot of nice 67-72's go for a fair price. Here's the one I wish I'd had money to bid on.

https://www.leakecar.com/auctionresu...ion=itemdetail

The reason it went at that price probably had to do with the non-conforming vin. It was registered in Alabama as a 90's assembled truck for some reason.

But still, I've seen a lot of nice deals go down at the auctions, especially on longbeds.

So do any of you guys buy at auctions? What are your thoughts about it?

The ad says "vehicle has non conforming vin" be vary wary of any vehicle with VIN issues.

[70cst]

I agree ...

#1-Do your homwork on truck values

#2-Set a maximum price that you want to spemd and stick with it.

#3-Do get caught up in the emotions of the auction

#4-If there is a buyers charge ... add that cost to the selling price.

$5-Take a friend with you to help keep you in check.

#6-If able check out the trucks that you are interested in. Pre-emptive buying.

I think auctions are great but make sure you are self disciplined.

Good Luck

[DonnieB]

I agree with the above, I buy at auctions all the time. Don't let it turn into a pissing match and spend too much!

[low&slow]

I bought 2 trucks from the same auction. I knew what I was looking at I was able to look at both trucks very closely. First was a 1968 1 ton. Driveable all original truck with title for $600. Then got a 1970 3/4 ton without a title. They said I'd have to have an investigator come out and find the numbers at my own cost to get a title. Little did they know the vin was on the glovebox, door frame, and on the dash. I never got a title as I parted the truck out and crushed the cab.

You can come out good on auction deals. Just know what you want to pay, what it's worth, and if you decide to sell, what the resell value is in good condition.