Tuesday Nov 04, 2008
You are Here: Before You Start
You are Here: Before You Start
The General Services Administration wants you to find our vehicle auctions a rewarding and enjoyable experience. Whether you are a seasoned auction buyer or a first-time attendee, familiarity with how GSA conducts its auctions can enhance the success of your vehicle bids.
Register
GSA conducts its public vehicle auctions through registered auction lots across the United States. To participate, please register and obtain your bidder number at the auction house prior to the sale. There is no registration fee.
Inspect Your Vehicles
Familiarize yourself with all the vehicles you are seeking. GSA highly recommends that buyers check out their prospective vehicles, either prior to the start of the auction or at the auction house's Inspection Day (if one is scheduled). With several hundred vehicles slated for sale, you should allow at least one or two hours to inspect your selections. Also, be prepared to bid on several alternatives in case your first choice is bought by someone else.
You are invited to check over your intended purchases both inside and out, as well as to start up and rev its engine. However, the vehicles may NOT be driven from their space.
Review the Auction Catalog
The auction house will distribute a catalog of available GSA vehicles on the day of the Auction and preceding Inspection Day (if scheduled). The auction catalog lists each vehicle in the order it will be offered with its make, model, year, color, VIN, mileage, installed equipment and special features. Note that an inventory list will usually be available on-line beforehand. Check Vehicle Search or Calendar for details on individual auctions.
Calculate Your Target Price
The first thing to know is that there are resources out there to help you develop a sense of what a vehicle might be worth. NADA (National Auto Dealer's Association), Kelley Blue Book, and Edmunds are online sites, among others, with pricing guides that can assist you in trying to value vehicles. Another helpful tool is visiting local dealer sites. Those sites can give you a good idea of what similar vehicles are selling for retail. You may also find that your lending institution has printed publications to assist you in determining the value of a vehicle.
Another important factor to keep in mind is that all used cars are a little bit different. A car may have higher or lower mileage than a similar vehicle. It might be in better or worse condition. It might have a few different options. These differences can play a significant role in moving prices above or below average. So remember, a pricing guide offers guidance, it is not able to tell you exactly what a particular vehicle will be worth on a particular day at a particular location.
Finally, realize that you are buying in a wholesale auction environment. At a GSA sale, the only people who are not allowed to bid are GSA employees and their immediate families, and Auction House employees, subcontractors, and any of their immediate families. That means that the general public, dealers, businesses and other buyers are bidding against each other. If making that final $100 bid will still save you substantial money as opposed to buying retail, then place the bid. If it does not make sense, don't worry, there is another car coming that can meet your needs.
Read the Sales Terms and Conditions
Please read the sales terms and conditions before you buy. Among the important clauses is a description of default. If you fail to pay for or take possession of a vehicle won at the auction, the government may put you into default due to breach of contract. The government is then authorized to collect the greater of 20 percent of the purchase price or $25. A bidder in default may be prohibited from doing further business with the government until liabilities are resolved.
Attend the Mock Auction
The auction house may conduct a brief mock auction just prior to the actual sale. If you are new to used vehicle auctions, attend this mock auction to familiarize yourself with the process. Check with the auction in advance to find out if a mock auction will be offered.
