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Hello Everybody, this is Paul, the main instructor here at the dealer school. I have been involved in the car business since 1997. Here on this page you will find my Car Dealer Blog, where I will write about adventures in the car business.
February 21, 2013: DEALER AUCTION FIELD TRIP
Today while at the Southern California Dealer Auction in Fontana, I met up with a a student new to the car business. I arrived a little bit before 8:00 AM and it sure was cold out there in the Inland Empire this morning. I saw dealers with badge numbers over 1800, so there were a lot of dealers attending today. After a wonderful auction cafeteria breakfast, I met up with my student. As stated above he is new to the wholesale business and needed some guidance on wholesaling a car at the auction.
I suggested that he sell the car at this particular auction, because recent trends indicate that this is a "seller's" auction. If you are connected with the car business, it is no secret that cars sell for more here than surrounding auctions. Well I sure am glad I met up to give him some guidance. First of all, he had an awful run number, that was way too late in the day. When selling at an auction a run number that is too early or too late can be a problem. Anyway, we were able to get that straightened out. I was also able to show him how to protect the vehicle on the block. This guidance resulted in him getting about $900 more than he was expecting to get for the car. I am always glad to help.
This week's auction tip is..
TAKE A LOOK BELOW. ON THIS PAGE, YOU WILL FIND
1. WEEKLY AUCTION TIPS
2. INFO ON WHERE TO BUY CARS
This week's auction tip is....
UNDERSTAND WINDSHIELD WRITING.
(Below is a picture taken from an actual car at a dealer auction.)
14 - This is the lane number. Dealer auctions have several lanes. If an auction has 20 lanes for example, then there are actually 20 different cars being auctioned at once. The car below will be auctioned in lane 14.
74 - This is the order of the car to be sold. In other words, it will be the 74th car to be sold in lane 14. You can estimate that it takes about a minute to sell each car, so expect this car to sell 74 minutes after the auction starts. While you are waiting for this car to sell, you can lounge in the cafeteria or inspect other cars.
S - When you see the letter "S", this means the car has been sold. Thus, if you saw this car in the parking lot, sorry - you missed it!
8/23 - This is the date of the sale. It was sold August 23rd. This is useful if you are inspecting cars days before the auction date. You can know for sure when to expect it to be sold.
88 - This is the year of the car. It's a 1988 vehicle.
Check Here next week when we will discuss Lemon Law Buyback cars such as the one below....
Here's free info on where dealers buy cars for their inventory
Since all of your instructors at our dealer school are real licensed dealers, we know all the ins and outs of where dealers buy cars from. When you obtain your dealer license you will have two main options from where to obtain cars for your inventory:
Below you will find some interesting information on both options.
In class we will provide you with information on how to purchase trade in vehicles directly from new car dealerships. This is a great way to purchase vehicles in that you are able to make detailed inspections before you buy.
We recommend this option due to the fact that your have an opportunity to thoroughly inspect vehicles before you bid on them as opposed to a 45 second inspection at the live dealer auction. If you sign up for our dealer license class you will be provided with more information on how this process works.
Have you ever been to a real dealer only auction? We go to them all the time. If you take our dealer license class we will give you some valuable information about the dealer auction. While you our waiting to take our class you can read our weekly dealer auction tip.
Click Here for class dates and locations
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Our goal is to provide a superior class that exceeds California Vehicle Code requirements, for an affordable fee. Our instructors staff consists of attorneys, licensed car dealers and licensed salespersons - experts on dealer laws and experts in the car business.