I am sure that by now you have probably heard of or seen an advertisement on TV for Drug bust seized and repossessed car auctions. The ads all tell of huge deals to be found by buyers on everything from Ferraris to Lamborghinis and even luxury watches like Rolex’s. But, is this all true and if so, where does one go to get in on this great deal?
Well, first off, there really are drug bust seizures which will confiscate the drug dealers and other various felony criminals property which is later sold at auction to the highest bidder. These auctions, depending on the state or federal agency that runs it, can be either open or sealed bids. In a sealed bid you will have no idea of what anyone else has bid until the auction is over for that particular item. This can be good and also bad as you may bid way over everyone else and could have gotten the item for far less.
Be sure and do your due diligence and research the cars, trucks or SUV’s you will be looking at and most government auctions will have a preview list containing the inventory prior to the auction. Be sure and look at the entire description as these are AS IS, WHERE IS agreements and there is no warranty or guarantee whatsoever. Be sure and attend the auction early so that you can look at the actual vehicles and check out its condition and engine. In some instances the people running the auction will not allow previews with more expensive cars and specialty vehicles. This is due to their expense and or reputation.
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Regardless, one can find a good deal at these police drug bust seized and repossessed government auctions. Due to their popularity and great deals in the past there will be many bidders in attendance at most auctions. This can bid some prices up to where there is barely any deal. The tip here is to try and bid on stuff when everyone else has either spent all their money or when they all go to lunch. This tip works great at dealer only wholesale auctions also.
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