For quite some time now, cable TV car auction are pretty much popular, exciting and entertaining, mostly because of the unique and rare cars that are being shown in front of the eyes of million viewers. Thus it is gaining respectable popularity amongst the mainstream audience and in the same time is making an impression that it is a new method of selling vehicles. However, it is an indisputable fact that every year (according to the National Auto Auction Association) that there is a number of over nine million vehicles that are being sold at these auctions.
For a better understanding of how this whole thing is working and finding the ins and outs of the craft of selling, we talked on this subject with the Consignment Manager at RK Motors, Mister Tony Klein. He told us about the ways of how one car is (and should be) prepared for an auction, all the things one must do if he wants to gain a positive experience out of the whole thing.
RK Motors` main characteristics
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People who had formed RK Motors back in 2010 are Rob Kauffman (who is also a co -- owner of Michael Waltrip Racing) and Joseph M. Carroll, founder of Best of Show Automotive. Rob and Joseph are guys who have a good sense of business, combined with their knowledge in automotive industry, created this innovative way of car retailing.
After establishing all of the basic elements, from November in 2010, they have made a state of the art showroom that quickly became well known as destination for great number of car collectors from almost every corner over the world. Besides the standard, inventory cars, the RK Motors Performance Center is also doing a restoration of some of the most rare and `most wanted` cars out there and as a result of their good work, those cars have gone on to collect many rewards and trophies at some many car shows in the United States.
So you can make an easy guess that these good results did not go unnoticed amongst most of the car enthusiasts. Thus RK Motors started to operate with this group of people who were trying to make the hobby more enjoyable and (perhaps even more important) more accessible to all interested parties.
How does Auto Auctions works
Nowadays, there are several types of auto auctions that are functioning well in the US. Some of them are actually an outlet for banks and some government agencies like the IRS who simply has a need to sale the seized and repossessed vehicles. This fits well in the RK Motors working policy because the government, as well as the banks and other financial institutions, have a periodical but constant need of disposing their off lease returns.
On other auctions, there are mostly aging fleet vehicles, rentals and other trade -- ins and unwanted inventory. Also, there are the so called Salvage auctions, which main purpose is selling cars for the insurance companies – their totaled vehicles to be more exact.
And of course, there are the general auctions and the ones for the specific and rare car collectors. These auctions on which the subjects of bidding are classic and antique cars are pretty much different than local general auto auctions. There are two types of auctions, the ones from a closed format which are mainly for specified dealers and the open auctions that are attended for the general public. So if you are planning to sell your vehicle, give it a good deal of consideration and make the right decision where will you put your vehicle on sales.