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December 26, 2013

Manheim Auctions Developments

Manheim is the world’s largest, most consolidated wholesale vehicle marketplace. It has 106 operating locations around the world and it has several branches in California, namely Manheim South California, Central California, San Francisco Bay etc. Such a huge project attracts the attention of qualified buyers and driven sellers to meet at live, competitive auctions. They also provide variety of services like reconditioning, certification, dealer financing, inspection and much more.

Manheim has taken many bold initiatives and made wise investments starting from 1945 when they bought first Manheim auto auction in Pennsylvania, till last year, when they purchased Dealer Service Corporation and Ready Auto Transport.

In 2000, Manheim took the most audacious step of all and finally acquired their rivals ADT automotives and its 28 U.S auctions from Tyco International Inc. for about $1 billion. Despite the reservations of ADESA and other rival firms, it proved to be a promising step. After the merger, Manheim consisted of 86 North American auctions and 126 business units’ world and around 40,000 employees including ADT’s.

The transition proved to be very harmonious and ADT employees were welcomed like a family, most of them were going to be key executives. Dennis Berry, CEO of Manheim auctions, said that the merger would be a success because these two combines were similar in many ways. He added that both companies had rich historic backgrounds, excellent facilities and most of all tenacious professionals. He proclaimed that the combination of both will assure a successful future for Manheim.

December 20, 2013

Researching Before You Buy at an Auction

This is the stage where you have narrowed down your choices to a few number of car after a thought process and detailed inspection. Now, apparently, all cars seem best fitted to your needs according to your opinion. However, you have to make a comparison based on statistics, reviews, user response, customer satisfaction, expert ratings etc. to select the best car out of all.

There are several websites and platforms available to provide you with the insight of each model and comparison between old and new ones. Websites like CarGuru(http://www.cargurus.com/) have the used car guides with reviews to help you make a more informed decision. TotalCarScore(http://totalcarscore.com) is another site which can assist you in ranking your final choices.

Once you have selected the model of the car, search for used car listings to look for any used models which can fulfill your needs at a lower price. For instance, you might have the budget of buying a model of car you just shortlisted in the auction but still you might find a year or two older model of the same car, having more or less the same features and mileage at a considerably lower price. You can spend the money on repairs and yet save the money if the price margin is way too large. The AutoTempest (http://www.autotempest.com/)used car search engine is another platform which can provide you with broadest used car listings to choose from.

December 16, 2013

How to Select Salvage Cars on Auctions?

You might find it difficult to pick a car from a whole lot of flashy, eye catching cars, that truly serves your needs and falls in your financial range. Here are some things you need to consider before you make your decision.

Firstly, you should go through the images of the vehicle, try not to get too attached before you actually visit to see the vehicle. Inspection is always a good idea before placing a bid. It gives you a clear idea about the damage type and how the car has been handled. Also, get the vehicle’s identification number and information about the vehicle’s history like whether it was damaged due to flood, fire, collision etc. This could help estimate the repair costs later.

Secondly, make sure you estimate the amount of money to be spent on the repairs and replacement of damaged parts. Go for a test drive and closely hear for any weird noises and look for any fluids leaking from the car. You can bring an expert for ease of conscious, but you will know whether there is something wrong with the car if you are little vigilant. If you are worried, look for brokers that provide assistance with inspection.

Thirdly, take into account the transportation of the vehicle. If you live in the suburbs, you might want to consider auction houses that provide transportation as part of the purchase.

Lastly, if looking at a reconditioned car, it’s a good idea to consider the brokers which provide insurance coverage as well. You might want to avoid the headache of spending money every day on repairs.

December 12, 2013

What Are Government and Police Auto Auctions?

Legally, government agencies must make any spare or seized items available for sale to the general public. This means that whenever customs has confiscated a vehicle or military has surplus cars or whenever a car is grabbed due to loan default, those vehicles are presented at the auctions to be bought by general public. As the main goal of these auctions is recovering any sum of money, you can hope to get quality items at value way below the market price.

Due to the idea of economical purchase of valuable vehicles, these auctions are very popular all across the continent. Moreover, you don’t need to spend money to get access to the auction listings. Federal, State and local government list all their auction information free of cost online. You can either do a search for auction information on your local government or police department’s website or you can directly contact them and ask for the details. Some of these auctions are held online but some of them require you presence.

In addition to that, there are yet more websites which provide easy interface and makes entire process lot smoother. But you have to keep in mind that some of these sites can be fake or unreliable. It’s better to discuss working of these websites with your colleagues or friends before placing bids.

December 9, 2013

Gooding & Co.

High-dollar classic car auction houses in the US have always presented the most persuasive spectacle for the audience around the globe. Gooding and Co. is surely among the most prominent of these auction houses worldwide. They not only participate in but also organize private sales. The Santa Monica based auction house took part in Monterey, Carmel and Pebble beach car week in August earlier this year.“These auction houses are good at finding cars that they think would fit the audience,” said Mackeel Hagerty, founder of Hagerty insurance.

With the week’s event starting, Gooding and Co. had a big opportunity to grab attention of the international crowd and make a big sale. Gooding and Co. and 4 other auction houses sold 71 vehicles of worth 1 million or more this year which rose from 57 in 2012 and 31 in 2011, according to Hagerty. Evidently, Gooding and Co. contributes to present this indulging prospect to the fans worldwide. Although RM auctions, rival auction house, stole the spotlight and made the biggest sale of the week, 1967 Ferrari 275 GTB/4*S N.A.R.T. Spider for $27.5 million, Gooding and Co. concluded the event with their final sale which landed them in the top five of all cars sold this week, a 1997 McLaren F1 coupe for $8.5 million.

Gooding and Co. are also unveiling their marvellous collection including 1952 Ferrari 212 Inter Coupe, 1971 Mercedes-Benz 280 SE 3.5 Cabriolet and many more, at the upcoming Scottsdale auction being held on January 17 & 18, 2014 and the Amelia Island auction on March 7, 2014.