BUYING AT AUCTION GUIDE
Buying at auction can be an enjoyable, hassle-free experience and can often save you money.
If however you haven’t purchased a truck or vehicle, machinery or equipment from an auction before there are a few things that you should be aware of to make your buying experience as enjoyable as possible:
Every auction has it’s own unique set of rules when buying so do your homework!
What to do before buying at auction
We strongly recommend attending at least one auction purely as a viewer before deciding to buy from an auction. This gives you the opportunity to experience an auction before having the added pressure of making a bid.
If you are considering or have decided to purchase from an auction using finance, we also strongly suggest being pre-approved for the amount you wish to spend. For more information on obtaining finance visit our auction finance page.
What to do when you have found an item to buy at auction
Make sure you take the time to inspect the item either online, onsite or preferably both.
We recommend choosing to inspect the item in-person on viewing day as this will also mean you will be able to start the vehicle to test it works. Unfortunately, you are unable to test drive items bought at auction.
When inspecting, we would suggest to ask the staff about where the vehicle came from e.g. was it from a repossession, a private seller or government fleet as this may give you some insight into the treatment and service history of the vehicle.
Also make sure you find out about any additional fees associated with purchasing the item from auction e.g. most auctions charge a buyer’s premium and/or administration and processing fees. Also important to know whether the sale item is GST inclusive or exclusive.
What to bring on auction day
To buy from an auction you must register as a buyer either online at least 24 hours prior to the auction or on the day of the auction.
If you have registered to buy from an auction in the past you will still need to register at each auction you wish to bid.
If you choose to register on the day you will need to bring photo identification such as a driver’s license or passport and make sure you allow enough time to register prior to the item you wish to bid on being opened as often there can be queues depending on the size of the auction.
If successful at bidding, you will also need to have with you your preferred payment method (cash, credit, EFTPOS, cheque) as you will be required to pay a deposit to secure the item. The balance is then generally due the next day.