Buying seized motorcycles at an auction is a great way to purchase a motorcycle. Often these motorcycles have been repossessed and are almost brand new but with a much smaller price tag. Auctions are a great place for sellers too as the price the motorcycle is being sold for is the highest for that time. So, you are sure to get the best profit for the sale.
Look for government auctions as this is usually where these seized bikes will be for sale. These can be found on the Internet or you could ask your local dealer when and where the next auction will be. They are usually held on the same day every month.
Make sure that you fully inspect any motorcycles that you wish to buy. Once you have purchased them, they are yours, faults and all and these auctions don’t usually offer warranties. It’s not a bad idea to bring someone along that knows a lot about motorcycles so they can offer helpful advice.
It’s also important to arrive early on the day of the auction. This will allow you time to see what the auction has for sale that day and you’ll be able to get an idea of which ones you would like to bid on. It will also give you time to do your inspections without being pressured by anybody else.
Know the market value of the types of motorcycles you might be interested in purchasing before you get to the auction. This will give you a better idea of how much you want to spend and what is too much. Also, don’t get caught up in the bidding. Many people end up spending more than they would like as they get caught up in the bidding wars and they spend more money than the motorcycle’s worth.
