Today, we’ll talk about My Top 5 Tips To Being A Better Auto Auction Bidder.
I just wanted to make this quick video on buying cars from auctions. And, it doesn’t matter if you have a dealers license, if you’re going to public auto auctions or the insurance auto auctions.
Here are some quick tips I’d like to share with you.
The number one tip is to look for opportunities to bid when people don’t know the potential value of the car. If you’re bidding against somebody who doesn’t know the value of the car, then that’s a good thing.
So, look for those opportunities where you have those insider advantage; where you have some knowledge about the vehicle you are pursuing that others don’t know about.
Number two is stay calm. Stay calm and avoid bidding wars. Once you start to get into the bidding wars, people’s emotions take over and then it’s all about revenge.
You’ll just drive the bid prices up for no reason. It’s just worse for both parties. So again, keep calm and avoid bidding wars.
Then, number three is don’t fixate on a single car. If the price is getting too high, drop out quickly. You don’t want to keep pursuing a car and you’ll drive the bid prices up. You’ll be losing out on a deal.
And, here’s number four. Back down and avoid overconfidence. If you’re too confident and you’re going after something so much, you tend to naturally pay more than you should.
And sometimes, you end up with a lemon. You end up with something that’s more of a headache than it’s worth.
So, just back down if you feel that it’s too much and wait for the next deal.
Finally, always avoid deals with caution. If something seems too good to be true, then it usually is. Something might be really wrong with it if it’s being offered at that special deal.
Why aren’t people bidding on it? Maybe other people know something you don’t.
So those are my quick and easy tips for bidding at auctions. I hope you liked the quick video.
For those of you who are interested in learning how to buy and sell cars for profit, you have two ways.
You can buy and sell in the private party market and do the legal limit per year. There are a lot of people all over the world doing this everyday.
The other way is getting your dealers license or partnering with someone who has a dealer license.
If you are just starting out, I would definitely get my feet wet just trying to find a good deal, selling it and making a profit.
Don’t worry about getting a dealers license in the beginning, because you may not like it and may not want to get into it. So, start small. Just start with a couple of thousand dollars and make a few thousand dollars.
Go out and spend two to three thousand dollars to buy a beater. Then, make five hundred to fifteen hundred dollars or even a two thousand dollars on your first flip and then go from there.
If you want to learn more about buying and selling cars for profit, check out the F1 AutoCashFormula 2.0 – How To Buy And Sell Your Cars. I have a lot of information for you on the site.
I’m giving away a FREE Manual where you can learn more, copy my strategies and get with started flipping cars for profit.
It’s Tony from F1 AutoCashFormula 2.0 – How To Buy And Sell Your Cars. Please don’t forget to Like, Share and Subscribe to my videos.
Talk soon! Bye!
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