AUCTIONS
Under the hammer: tips to buy smart
Ensure that you are ready and able to access sufficient funds to cover the cost of bids and auction fees
If you are looking for a used-car bargain, an auction can be a good bet as the prices tend to be much lower than at vehicle dealers. But as the vehicles are sold "voetstoets" (as is), you need to do your homework. First choose your auction house. Those with reputable track records, for instance Burchmore’s, Aucor and Imperial Auto Auctions, should come highly recommended for this purpose but newer options have surfaced all over the country. Spread your reach. Bank repo lists, more auction houses and special events are created to host auctions of variety, from commercial, regular to special consignments such as investment or classic cars. Ensure that you are ready and able to access sufficient funds to cover the cost of bids and auction fees. Most auction houses use cashless systems. Focus your shopping list of desired cars. It’s a good idea to first attend an auction as an observer. This will enable you to familiarise yourself with the process. You can then also ask the staff to exp...
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