We are all looking for that perfect deal. It might be a one off deal, or one that we can obtain on a regular basis. Either way, we are looking at ways to get discounts on the things that we want to purchase. The economic recession has made people a lot savvier about what they do with their money. They are always looking at ways to save money on cars, utilities and even insurance products. Police auctions are the one place where every single item sells for a price that is below it's normal value.
What are these auctions and why do they take place?
Police auctions are nothing new and have been open to the public for several years. The products on offer can be a very mixed lot. One day there might be cars, vans and trucks. The next day you are likely to find Hi-Fi systems, laptops and other electrical products. The police will have seized these items and therefore, they are looking to sell them on. Of course, these items are only sold when the police know that they will not be able to find the owner of the items (in the case that they have been stolen). These are legal auctions, run by the police, so there will be no repercussions regarding items that have been stolen and then seized by the police.
What do you need to know before bidding?
If getting bargains was easy, everyone would be doing it. If that was the case, then these bargains would not exist. Finding a police auction is going to be the first piece of the puzzle. You can find them online using any major search engine, but also offline as well in newspapers and magazines. Once you have found suitable auctions, you should visit a couple and observe what happens. This will allow you to get used to how they run, who the other bidders are and how much items typically sell for. Of course, they sell at discounted prices. You shouldn't expect to pay anymore than half of the original value, regardless of the item being sold.
Are these items worth bidding on?
Cars in particular can be a mixed bag when it comes to police auctions. Take into account that these items have been stolen and recovered. It is likely that they do not have the correct paper work and that they will more often than not be damaged. If anything, consider the fact that the vehicle is not likely to have any service history. In a normal market, this would decrease the value considerably. So when you are making valuations on products, take into account that they might have been abused in the past and might not be worth as much as you think.
Conclusion
Police auctions are certainly worth considering. That being said, don't just bid on the first item that you see. There are plenty of options when it comes to these particular auctions. You can find them throughout the country and there will always be another one if you don't manage to win what you wanted. If you are unsure when it comes to the quality of an item, then you will need to take a step back. Once you gain experience with these auctions, the whole process will become much easier.
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Another alternative to police auctions are unique bid auctions where the lowest unique bid is commonly the winner. Take a look at BidGrid for more information, where you can sign up for free and bid on their practice auctions https://www.bidgrid.co.uk/en/how_it_works.html
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