Below are the 3 most recent journal entries recorded in legitauctions' InsaneJournal:

Friday, January 20th, 2012
5:21 pm	Chicago Residents: Your Used Car Auction Options Reviewed Are you a Chicago resident who is looking to buy a used car? If you are, you may want to think about buying a used car from a Chicago auction. When it comes to choosing a Chicago auction to attend, you will find that you have a number of different choices. A common type of auction that many people attend, even when looking for a used car, is an auction where a large number of items are for sale, including used cars. These types of auctions are not always done on a scheduled basis though. Many times, the items being auctioned off are part of an estate or a business closing. Yes, you may be able to find an auction like this in the Chicago area where a used car or two is present, but you may want to look at auctions that are referred to as used car auctions. Used car auctions are auctions that specialize solely in the auctioning of used vehicles. What is nice about used car auctions is that well-known auction houses or even auto repair companies often host them. Also, you are often able to get access to a large number of vehicles. Depending on the used car auction that you choose to attend, there may be as many as fifty used cars present. Used car auctions, unlike many traditional estate auctions, are often held on a scheduled, predetermined basis. If you are interested in attending a used car auction, you will find that you have number of different used car auctions to attend, just in or around the Chicago area. For that reason, you may want to take the time to choose which used car auction or auctions that you want to attend. To save yourself time and possible even money, you will want to look at used car auctions that give you the opportunity to inspect all vehicles before placing a bid. It is also advised that you try to attend public used car auctions, as you do not need to have a dealer’s license or other documentation to bid on a vehicle. There are also used car auctions where you are required to pay an admission free, but many allow free entrance. In addition to attending a used car auction that is hosted by an auction house or an auto repair company, you may also be able to find auctions in and around the Chicago area that are sometimes referred to as police auctions. Police auctions vary from auction to auction, but they do typically have a number of used cars available for bidding; however, the number usually is not as high as it is with the used car auctions outlined above. Often times, a police auction involves the auctioning of old police cars, as well as cars and other vehicles that may have been impounded or confiscated during a criminal investigation. In addition to used car auctions that you can attend, you may also be able to find a number of used car auctions online. Online used car auctions are starting to increase in popularity. When it comes to online used car auctions, it is common for a number of individual auctions to be hosted on an online bidding website. While these bidding sites may be a great way to get a used car, you need to keep the current location of the cars in mind. For instance, if you live in or around the Chicago area, it may be costly for you to buy a car and transport it from New York. The other type of online used car auctions that you may be able to find are ones that are hosted by auction houses or even auto repair companies. Instead of having a live auction, there are some individuals and companies who are now choosing to do online used car auctions instead and some are even deciding to do both. The only downside is that you may not get to inspect the used cars before hand. As you can see, from outlined above, it is possible to buy a used car from a number of different auctions. While you may not necessarily see the same success, many used car auction buyers have had success with live used car auctions. If you are interested in attending a live used car auction, you may want to examine the auctions hosted by North Shore Auto Auction. webstore.com reviews || quibids.com reviews (Comment on this)
5:21 pm	All You Need To Know About Car Auctions Buying or selling your car in an auction can give you a headache if you do not have any idea what you are getting yourself into. Let me give you some answers for the most frequently asked questions about auctions. What is an Auction? An auction is one of the first means of doing business and profitable exchanges. History books show that art, land, crops even people were being auctioned off in the past. Hey, even the Roman Empire was auctioned. What about Automotive Auction? An auto auction is the ideal environment for car dealers to remarket their cars. This is the perfect opportunity to make the big bucks and get that great sell that you have been waiting for. The true market value of the vehicle is also determined once a vehicle is put on an auction block. Auto auctions exist to market cars. Its main objective is to make the deal fast and accurate. It serves as the impartial trading floor which offers security and integrity to the participants. It also varies in size depending on the number of employees, cars or how big the area they occupy. Auto auctions may also offer different services like, repairs, reconditioning, financing, arbitration and a host of other services. How do I participate in an auto auction? As there are a number of auction houses available, choose a reputable auctioneer to buy or sell your car to. Keeping in mind the kind of car you want to sell or buy, the geographical convenience and the services the auction operators offer, these factors will determine the auction you will want to participate in. Be also aware if the auction is an open or closed auction. Open auctions, as the term suggests, are open to any registered dealer. Most auctions are open but may be tailored to specific kinds of vehicles like car fleets, rentals, repossessed units or special dealer consignments. A closed auction is limited to specific participants. It is also advised to check the websites of the auction houses you want to participate in. It is a good idea to request for an auction tour. This will give you the chance to inspect their facilities and operations. This is also the best time to ask and clarify details such as the biding process, services offered and other questions which comes to mind when you are inspecting the lot. Once you have decided which auction house to participate in, get the necessary paper work done and be sure to have an identification card and a bidder’s badge. If you are buying, get a hold of the ‘run list’, which is a computerized list of vehicles being auctioned off on a specific date, the commercial consignor and similar information. It is also a good idea to get a sales lot parking plan. Vehicles are typically grouped and the parking lot plan will help you locate which lane to go to. What is a ‘floor price’? Also known as the ‘reserve’ or ‘low’, the floor price is the lowest price the seller is asking for. If the price is not met while on the block the seller can lower it to attempt a sale. If the floor price is still not met, the vehicle can be placed in the “if bid” where the bidder agrees to buy the vehicle if the seller agrees to his offer in a specific period of time. How do I evaluate the vehicles? There are usually pre-selling inspections where you can appraise the vehicles that are being auctioned off. Each vehicle has a windshield marking where information like the seller’s name, model of the vehicle, mileage, run number and lane assignments are posted. For a fee, post sale inspections are also available in some auction houses, where auction mechanics are available to check the engine, air-conditioning, brakes, frame, transmission and the rear end. It is also wise take advantage of the free arbitration services which protects the interests of both the buyers and sellers of the vehicles. You can also test-drive the sold car if you present a valid I.D. to the arbitration department. Most auction houses have test tracks, so make use of this service and be assured that you got your money’s worth. What happens after I won the bidding? After your purchases have been completed, go to the front office of the auction house and finalize your transactions by making the required payments. The title is then transferred to your name. A gate pass will be issued for your purchased vehicle. What are Internet Auctions? Auction houses are taking advantage of the present technology available to them. Cyberlots or cyber auctions allow sellers to post their vehicles on the net, including photographs and information about the specific car they want to sell. Most cyber auctions have limited time frames. Beezid.com Reviews || Foreclosure.com Reviews (Comment on this)
5:21 pm	Silent Auctions – All Done? All Done? Sold! Silent auctions are a way of disposing of auction items without employing the services of an auctioneer – one of the main reasons silent auctions are popular as charity and organizational fundraisers. Here’s how it works. The items to be auctioned are put on display. For example, a chamber of commerce may have solicited goods and services from people in the community for sale at an annual chamber banquet or other event. If you’re interested, you simply browse through the offerings. Find something you like? Bidding is easy. You just pick up a pen and write down your name along with what you’d pay for that item The point is that you’re not bidding “in the dark” like sealed bid auctions. In that case, you submit your bid in writing in a sealed envelope. The envelope is opened and the highest (or lowest, as the case may be) bidder is notified. But in silent auctions, you have the opportunity to see what someone else bid on a particular item. Often, you can even see who submitted that bid, though some silent auctions assign numbers for your bidding to ensure anonymity. If you enjoy auctions, there are some real pros and some cons to silent auctions. One of the biggest pros is that there’s no need to stand around and wait for the item you’re interested in to come around – a process that sometimes takes hours. Instead of waiting until the auctioneer comes to that item, you can just walk around and bid on whatever catches your eye. If you think that the excitement of bidding against another bidder is absent from silent auctions, think again. The bidding can sometimes become fierce with several people “guarding” the item they are bidding on to watch for opposing bidders. When that happens, the people who are most interested in the item may get into a “silent” bidding war, just as in a traditional auction. One will barely wait for another to move before placing a new bid. One negative of the silent auctions is that you have to watch an item you’re interested in. Typically, there will be a notice that the auction is about to draw to a close so that you have one last chance to check the status of your bids, and to make one last bid. Another negative is that it’s more difficult to make small increment bids that really count. The best way to scare off other bidders and potential bidders is to simply make a large jump in your bid amount. Silent auctions can be a good way to raise money, and can be incredibly fun for the bidder. Auctionresource.org reviews || legit auctions (Comment on this)