Car Auctions in Atlanta South, GA 30294 2655: Public Online Salvage Auto Auction | A Better Bid (2024)

FAQs

Are salvage car auctions worth it? ›

Buying at a salvage auction can be a good idea if you're looking for a low-cost vehicle and are aware of the potential risks and repairs involved. It's crucial to conduct thorough research and understand the vehicle's history before purchasing.

The auction house had been impacted by the Great Recession, and business did not fully recover until 2018. In 2021, Barrett-Jackson purchased the Phoenix-based Collector Car Network, which included several classic car publications and the Future Collector Car Show.

Sometimes the car is a trade-in. Some cars at auction are from rental fleets, retired because of age or high mileage. Other cars at auction are repossessed by a bank because of missed payments, for example, and sold to the auction. Wherever they come from, expect to get a great deal on a used car at an auction.

What is a salvage car auction? A salvage car auction involves auction of those cars that have a salvage title. Such titles mean that the insurance company has not made the final decision on whether the car is worth repairing for the car owner.

The main risk of buying a salvage title vehicle is safety. This is why they are illegal to drive in some states and many insurance companies won't cover them. The safety of salvage vehicles is often severely compromised during wrecks.

For most people, the biggest issue with buying a car with salvage history is safety. You might not know the extent of the damage that caused it to be declared a total loss, and if it has a rebuilt title, the repair work could have been done improperly. Be wary of water- or flood-damaged vehicles, as well.

How Much Does the Seller Pay at Barrett-Jackson? To sell a vehicle at Barrett-Jackson, the seller is responsible for paying the entry fee (based on the time of day of the auction and the lot number) and a seller's commission of 8% of the hammer price. The buyer pays a 10% buyer's premium on the sale.

So looking at the number of cars sold the nod goes to Mecum's with 1,811 cars sold, 35% more than their Scottsdale rival Barrett-Jackson who sold 1,343. Perhaps the top three categories for a successful auction are consignments, cars sold, and dollar sales.

If a consignor has any vehicles that have not sold, they can ask to put them through the lanes again that day, store the vehicle until the next sale, offer it for sale online or arrange for the vehicle to leave the auction site.

Why would a good car be sold at auction? ›

Often dealers will send vehicles to auction to avoid a hassle. A vehicle may be too old, have a mileage discrepancy, have a bad CarFax, or have other concerns. Auto auctions take vehicles as-is. This makes selling at a car auction a great way to get rid of complicated units.

Pros of Buying a Salvage-title Car

You can typically buy a car with salvage titles for 20% to 40% less than market value compared to a vehicle with a clean title. You might find a car with little damage. A salvage title doesn't always mean that the car has been wrecked.

It will always be marked as a restored and rebuilt title, and this will need to be disclosed whenever you attempt to sell the vehicle. Meanwhile, you likely won't be able to sell the vehicle for more than half of the market value of a similar vehicle with a clear title, so keep that in mind.

REASON #1: It's a Quick Sale

An auction affords the property owners the opportunity to dispose of property now at today's prices, rather than tomorrow's prices. Time is money. Depending on reinvestment rates, $95,000 or even $90,000 today is likely more valuable than $100,000 next year.