Car Auctions - looking for info

oddone

I am trying to sell my car to finance the purchase of a newer model.
My current car is almost eight years old but is in good condition and has just over 80k on the clock.
I think it's worth a few grand and from sites like autotrader and carzone etc I see others selling similiar models for even more.

It has been suggested to me that I should try entering the car in an auction and placing a reserve on it so I don't have to let it go for less than it's worth or less than I want to sell it for.

Does anyone have any experience of auctions? are they cheap to enter,
are you likely to get the same value as you might selling privately?

any advice or info appreciated

bazz26

If you try and sell your car at auction you have to be prepared to put a low reserve on it otherwise you will be wasting your time. Selling a car at auction should be a last resort where you tried to sell it privately but failed. People who buy at auctions are generally there to pick up bargins, alot of the "small" dealers or those involved in the trade shop at auctions, buy cheap cars that need work done on them, they get them repaired and sell them on for a profit. You will not get market prices at auctions and by the time you have paid the auction house their commission you will have very little left in your pocket. Should only be considered as a last act of deperation to shift a car imo.

Also pay very little attention to prices on autotrader, carzone, etc. They are "asking" prices which are not the "actual" price the sellers get for them. Lots of dreamers out there even in a recession and those cars tend to stay unsold until the owner sees sense.

oddone

bazz26 wrote: »

If you try and sell your car at auction you have to be prepared to put a low reserve on it otherwise you will be wasting your time. .

Thank you.