How to Find a Deal at a Police Auction
Police confiscate a great deal of property when they arrest criminals. While the police do make efforts to return stolen property to its rightful owner, it is not always possible. To avoid filling their storage spaces to capacity, many police departments stage auctions where they sell off confiscated goods and their own surplus equipment. These auctions most often sell cars, though bicycles and other goods also occasionally are sold. There is a potential for good deals, but you must watch carefully, do as much research as you can, and accept some risk.
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Instructions
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Watch the local newspapers for auction announcements. If there is more than one local paper, keep an eye on all of them. Police auctions are not always widely advertised. Many departments hold their auctions on a consistent schedule. If this is the case, you'll know when to watch for an announcement (Reference 1). Finding auctions that are lesser known is an excellent way to get a good deal.
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Call the local police department office to find out details about the auction. They should be able to provide a time, location, and the hours for the inspection period That period when enables you to view the items being auctioned.
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Buy a used-car guidebook if you're looking for a vehicle from the police auction. This will give you a rough idea of the fair price for a given make and model. Some auctions will publish a list of available items in advance. If they do, you may be able to get a vehicle identification number. With this, you can look up the car's Carfax record. This will tell you the car's ownership and accident history. These searches can be done online. (See Resources)
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Arrive at the auction early. This gives you time to look over the goods thoroughly and search any vehicles VINs you may buy. Different police departments handle this differently. You may be allowed to inspect or start up the cars. You will not be allowed to drive them. Always try to inspect and test anything you want to buy as much as they will let you (reference 1). There is no protection for you if you buy something and it doesn't work.
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Bring enough money to fund your purchase or a proof that you have access to a sufficient credit line. You also may need to pay registration and buyer's fees (Reference 1).
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Sit though your first auction without buying anything. Observing how the auction works will give you hints as to how high bids go and when it is effective to make an offer (Reference 1).
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Make bids on items that interest you. Bid low, especially if you haven't had a chance to closely inspect the items. If there isn't much interest, you may get an excellent deal. If the bidding is getting close to the market price for whatever you're bidding on, it isn't worth the risk.
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References
Resources
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