|"Oldest know Indian Motorcycle"|
Photo by Steven Rinker
Now, I'm not suggesting that you run out bid on this bike unless you "hobknob" with some of the major players in the motorcycle collecting circles. It's been estimated to sell for anywhere from $65,000 to $500,000! But, it does help me to drive home a point that I've been trying to get across. Auctions are places where you can find things you won't find anywhere else.
For this very reason, auctions can produce some very nice finds for the discriminating buyer. My point is this. When someone wants to sell something that will be of interest to many people, and they want to sell it now, an auction is the perfect answer from a sellers perspective. Selling at auction means that on the day of the auction, you will walk away without the item you brought with you, and, you will have some extra money in your pocket! People who sell at auctions can usually be divided into two separate categories.
- Those who have something to sell that is unique and want to reach as many interested people as possible who are interested in their offering, without the hassle of advertising the item themselves.
- Those people that have something to sell and want to reach as many interested people as possible, and, have a need to sell the item right away.
- As in the case of the Indian Motorcycle, it is a rare item which, most likely, will only be found at large, high dollar auction houses that sell only those rare items that will bring high auction bidders all to one place at the same time.
In a past article posted in our sister blog, "The Art of Custom Car and Motorcycle Maintenance" , introducing my readers to auctions, I went over all the reasons why purchasing at an auction could be a very rewarding experience. In the article, entitled "When Purchasing A Used Vehicle, Do Your Homework, Or, Have Someone Else Do It For You", I also introduced you to my "favorite" auction house, Iron Planet Motors. They are one of the best auctions for first time auction buyers, and, for some very good reasons. Let's go over those reasons again here.
- Iron Planet Motors caters to first timers. Auctions can be very confusing if you don't know what you're doing, and, mistakes made at an auction are not at all forgiving! So finding an auction that is "first-time-user-friendly" is not just a convenience, it's imperative if you want your experience to be a pleasant one.
- Iron Planet Motors has a "vehicle report" on each vehicle to be sold at their auctions that is prepared by an automotive expert who actually visits the vehicle wherever it is located. They do not rely on the owner's description of the vehicle and all claims of vehicle condition, operating condition, lists of options the vehicle has and all other claims are verified by a real person who knows what they're talking about when it comes to the specific vehicle they are reporting on. Pretty cool considering the reports are free and everyone who has ever had a vehicle inspection done by a true professional knows that inspections start at around $150 and go up from there depending on how in-depth you want the inspection to be!
- Lastly, Iron Planet Motors helps the first time buyer with a host of other miscellaneous items that need to be considered when you are purchasing a vehicle that might not be located right down the street. They will help you with financing, transportation, and insurance. All of which are things that need to be considered. Once you buy a vehicle at auction, you will be able to do these things on your own. However, having an experienced group of people working with you on your first time is a real blessing.
Most vehicles sold through IronPlanet have undergone a rigorous inspection process. The inspection reports are posted on their website, and each report includes details and 15-25 photos of the vehicle. They back up the reports with their IronClad Assurance®, which guarantees that the vehicle is as good as they say it is. You can find out more about their IronClad Assurance here. To review inspection reports, you will be asked to sign up — it's quick, easy, and, best of all, it's free. Members of IronPlanet have full access to their available vehicles, past auction results, and can place bids. Their PriorityBid feature allows prospective buyers to place bids prior to auction day. You set the maximum amount you’re willing to bid and their auction system keeps you in the lead up to your maximum! It just doesn't get any simpler to participate in an auction! You can read more about PriorityBid here.
On auction day, each item is on the block for a limited time period, with multiple items often on the block simultaneously. If active bidding is still in progress at the end of the original bidding period, the auction may be extended. If there is no active bidding in the last two minutes of the original bidding period, no more bids are accepted and the auction ends. The highest bidder wins the auction! You can read more about bidding here, or better yet, go ahead and Try IronPlanet today! It really is just that easy!
Whether you are looking for cars, trucks, motorcycles, rv's, motorhomes, or even farm equipment, tractors and construction equipment, Iron Planet Motors has your auction. And your first auction is just a click away! So what are you waiting for?