When most people think about property auctions, they think about the standard estate auction or sale, house auctions or property that is being auctioned off at auction houses. People can take advantage of property auctions in several different ways. One of the advantages of public auctions is that people can often find and purchase items for less than what they would pay for the item new at retail or by buying it at an antique shop. Another advantage is that sometimes people can find items that are worth high value and that thought are what draws a lot of people into auctions in general.
Here are a few different types of public property auctions and some of the advantages that they hold:
Auto Auctions
Check upcoming property auctions here do not just include items that are found within the walls of a home or business; they also include auto auctions. Auto auctions include cars that were repossessed by the lender after the original owner stopped making payments and they went into default. One of the biggest advantages of auto auctions is that a person bidding on the cars can often pick up a car of their choice that is in good working order, for the fraction of the cost that they would pay if they bought it from a dealership or through private sale.
Estate Auctions
Estate auctions happen when there is a death and the deceased’s personal property and other belongings are auctioned off. These types of auctions are often an advantage for antiques dealers, electronics dealers and those looking to bid and buy on furniture.
Personal Property Auctions
Personal property auctions happen for several different reasons, but one of the most common reasons is to pay off a debt. The advantage for bidders is that the items may be of value, hard to find or well below cost that they would pay elsewhere. There is a disadvantage however and that disadvantage is that sometimes the selection of items is not that great.
Self Storage Auctions
Self storage auctions are becoming very popular these days due to media and television coverage about them. This type of auction is when the renter of a self storage unit stops paying their monthly or yearly fee on the unit and the auction facility auctions off the contents inside of the unit in order to recoup their financial loss. The advantage is that there may be items of value in the unit and since many self storage units contain household items, it is a low cost method of finding household furnishings.