The internet was not spared from the Bernie Madoff fiasco. The notorious swindler not only captured the news and received full-on media scrutiny, his E320 Mercedes Benz Station Wagon also received coverage for being on sale at an auction! This was prized at $14,000 upon appraisal.
Now, if you were to participate in a Station Wagon Auction, would you buy Bernie Madoff’s Station Wagon? Uh, no, right? You know who else loves Station Wagons? Clint Eastwood. Would you buy Clint Eastwood’s second-hand Station Wagon? 100% yes, of course!
Now then, are you the perfect candidate to bid for a Station Wagon? Well, it all depends on your know-how about vehicle auctions. Sometimes, it’s a sketchy idea to buy your station wagon at an auction, but you can certainly do so if you think this is the way you can get a good price for it.
What then are the steps involved in buying a Station Wagon at an auction?
1. You must have the mojo to pursue this and the moolah to pay for it, too. You will need to have prior knowledge of automotives and pricing issues.
2. You have to decide which car brand to go for. You can never go wrong with the following:
- American Motors Corporation
3. Look around for the best car auction shows in your city or state. You can also check newspapers and car trade magazines. When you find one, immediately make inquiries about the organizer and check their background and track record.
4. At the day of the auction, walk around and ask questions. Expect to be blown away by the array of Station Wagons that are up for auction but do not rush into making a purchase. The owners/sellers are, of course, expected to outdo each other in sprucing up their respective vehicles to impress buyers. They are selling after all. Do not fall for a lot of hot air.
5. Bring a mechanic with you. Take a look under the hood and check for engine condition.
6. Hire an appraiser. He will make sure you get a fair shake from the bidding process.
7. When the auction starts, this is where your knowledge will kick into gear. If you did your research well and coupled with what you know about vehicles, you will never run the risk of over-bidding for an item. Take it slow and if the vehicle is meant for you, it will happen. Just don’t fall into the temptation of spending more than necessary. More often than not, you will find that auctions are meant to overprice items that are up for bidding. Be smart and be aware.
8. Ask for the proper registration, documentation, and a legal contract when a sale has been made in your favor. Read through the fine print and do not hesitate to clarify issues and address concerns. You are the buyer so you are within your rights to make sure it’s a clean sale.
9. Get the contact details of the seller and proceed to conduct a background check immediately. It would be great if you can talk to the seller’s other buyers, those who came before you and who had transacted successfully and favorably with the seller.
10. Finally, make your purchase either through a bank draft or a check.
To maximize your protection, you should also purchase an insurance policy that covers cars bought at an auction.