Car auctions are no longer restricted by the requirement of being physically present at them. There are plenty of auto auctions taking place on the internet, providing you with the opportunities of being at an auction along with the convenience of staying at home. Using online auto auction software is much easier than attending one.
A survey conducted by Manheim Auctions found that 85 percent of automobile owners have never even considered going to an auction. This is probably due to issues of scheduling. With the recent advent of online auto auction software, however, anyone can partake in the spoils of a car auction, which often include unbelievable prices and the ability to buy rare models.
There are an abundance of benefits to attending, or finding online, insurance auto auctions. Insurance auto auctions are typically run by insurance salvage buyers, and offer cars that have been either wrecked or totaled. If you are, either by business or hobby, interested in repairing car damage in order to resell vehicles, or want to buy vehicles strictly for parts, insurance auto auctions are perfect for you.
It is at these types of auto auctions that you will find the best prices, and potentially make a little money. It is crucial to bear in mind, however, that the act of purchasing vehicles through insurance auto auctions is an investment. You will likely have a good deal of work to do on the car before you can resell it, but there are many great finds at insurance auto auctions.
It can be lucrative. I can tell you from personal experience. I am old school. I do still physically attend insurance auto auctions about four times each year, and I try to purchase four vehicles. I fix them up, give them a spiffy paint job, put in some new parts, and resell them from my garage. On average, I would say I make about 25,000 dollars in profit doing this.
If you have any questions regarding insurance auto auctions, or would like to share your personal experiences, feel free to do so in the comments section below! Happy scrapping, everyone!
3 responses to “Are Insurance Auctions Worth It?”
I have never attended an insurance auction. I have been to many auto auctions, but always for top notch vehicles. I guess that explains why I have never found a really amazing deal.
Yeah, the prices of vehicles at insurance auctions are unbelievably low. I also go to about four a year and make good money fixing them up.
Yeah, the prices of vehicles at insurance auctions are unbelievably low. I also go to about four a year and make good money fixing them up.