Looking for a car that matches your dreams but not your budget? Car auctions hold the key to finding amazing deals on vehicles that cater to every automotive enthusiast, savvy buyer, or professional reseller. Whether you’re hunting for a barely used gem, an antique classic, or a reliable commuter car, auctions are often the ideal places to secure them at prices well below retail.
This blog will walk you through everything you need to know about car auctions. You’ll learn about the different types, uncover the top auction houses in the U.S., get actionable tips for snagging deals, and explore the pros and cons of online versus in-person auctions. By the end, you’ll be ready to make your auto auction debut — and maybe even drive away with your perfect ride.
What Are Car Auctions?
Car auctions are events where vehicles are sold to the highest bidder, often at prices lower than those found at traditional dealerships. They can range from high-profile classic car auctions to local auctions specializing in repossessions or trade-ins. Here’s a quick overview of common auction types and their benefits for various buyers:
Types of Car Auctions
- Public Auctions
- Available to anyone, these auctions often feature repossessed cars, retired government vehicles, or trade-ins. Great for budget-conscious buyers, public auctions require little more than registration to start bidding.
- Dealer Auctions
- Dealer-only auctions are restricted to licensed automotive dealers and typically offer larger inventories, including trade-ins, lease returns, and vehicles offloaded by rental companies. If you’re an auto reseller, this is where pricing advantages come to life.
- Online Car Auctions
- Platforms like Bring a Trailer, Copart, or AutoBidMaster allow buyers to bid on vehicles from the comfort of their homes. With a wide inventory of cars at all price points, these auctions appeal to both tech-savvy buyers and those unable to visit in-person events.
- Government Auctions
- Run by city, state, or federal organizations, government auctions often feature police cruisers, seized vehicles, and surplus fleet cars at highly competitive prices.
- Classic and Specialty Auctions
- Targeted at collectors, these auctions showcase vintage vehicles, rare finds, and even luxury supercars. Think Barrett-Jackson or RM Sotheby’s — ultimate dream destinations for car enthusiasts.
Buyer Benefits
- Car Enthusiasts: Find rare or specialty models at classic car auctions.
- Budget-Minded Consumers: Public and government auctions offer reliable cars at bargain prices.
- Automotive Resellers: Dealer auctions provide access to inventory that can be resold profitably.
Understanding the type of auction that fits your needs is step one. Step two? Knowing where to go.
Top Car Auctions in the U.S.
When it comes to purchasing a car at an auction, not all venues are created equal. Below are some of the most reputable dealers and auction companies to explore for great deals.
1. Manheim Auctions
- What It’s Known For: The largest wholesale auto auction company in the U.S., offering a huge selection of vehicles for licensed car dealers.
- Why It’s Worth It: Manheim’s cutting-edge digital platforms and on-site inspections ensure buyers can bid with confidence.
2. Barrett-Jackson
- What It’s Known For: World-renowned classic car auctions featuring rare and collector vehicles.
- Why It’s Worth It: Perfect for serious enthusiasts, Barrett-Jackson consistently delivers high-quality specialty cars.
3. Copart
- What It’s Known For: Online salvage car auctions that appeal to both the DIY crowd and budget buyers.
- Why It’s Worth It: Excellent for hobbyists who want to rebuild project cars or purchase inexpensive daily drivers.
4. GovDeals
- What It’s Known For: A popular government auction platform featuring city and county-owned cars.
- Why It’s Worth It: Find retired police cars, fleet vehicles, and more at prices that can’t be beat.
5. IAA (Insurance Auto Auctions)
- What It’s Known For: Salvage auctions featuring vehicles recovered from accidents, floods, or other incidents.
- Why It’s Worth It: Ideal for anyone looking for parts, repairable vehicles, or resale opportunities.
No matter your location or needs, these industry leaders provide an excellent mix of variety, reliability, and affordability.
Tips for Finding the Best Deals
To make the most of your car auction experience, preparation is key. Here are some practical tips to help you succeed:
- Research Ahead of Time
- Check the auction house’s inventory listings online before the event. Identify several vehicles of interest and research their market value.
- Set Your Budget
- Establish a firm budget, including fees and potential repair costs, and stick to it. Avoid being swept up in the heat of bidding wars.
- Inspect Vehicles Carefully
- If possible, attend preview days to inspect vehicles in person. Look for wear and tear, engine condition, and overall aesthetics.
- Understand Fees
- Auction houses often charge a buyer’s premium (typically 5-10% of the sale price). Factor these fees into your budget.
- Get Preapproved Financing
- If you don’t have cash reserves, secure financing prior to the auction to streamline purchasing.
- Start Small
- If you’re new to auctions, begin with a modest goal for your first experience. Observe the flow of bidding to better understand strategies.
Following these steps will help maximize your chances of driving away with a deal worth bragging about.
Online vs. In-Person Auctions
Should you raise your paddle at an in-person auction or stick to bidding online? Here’s a breakdown of both formats to help you decide:
Online Auctions
Pros
- Convenient bidding from anywhere.
- Access to a larger variety of vehicles.
- Detailed vehicle information available upfront.
Cons
- No opportunity to physically inspect cars.
- Bidders often face steep competition.
In-Person Auctions
Pros
- Physical inspection of vehicles before the auction.
- Real-time connection with the excitement of live bidding.
Cons
- Limited local inventory.
- Requires time and travel commitment.
Pro tip? Combine approaches. Use online platforms as a convenient research tool, and attend in-person auctions for hands-on experience when it matters.
Real Success Stories from Car Auctions
Auction deals aren’t just theoretical—they’ve helped plenty of buyers snag their dream cars (and deals) in real life.
- Mark’s Classic Camaro
Mark from Denver located his 1969 Chevrolet Camaro at a Barrett-Jackson auction for $30K — nearly $15K below its market value. Today, it’s the pride of his garage.
- Mina’s Family Sedan
Mina, a single mom from Florida, bought a low-mileage Honda Civic at a public auction for $7K after using Copart’s online bidding tool.
- Jared’s Resale Win
Jared, an auto reseller in Texas, scored a fleet of reliable used trucks at Manheim’s dealer auction. He turned $20K into $40K in just three months.
These stories show that with the right approach, car auctions are full of possibility.
Don’t Miss the Road Ahead
Car auctions are full of opportunities to find your next great vehicle, whether it’s a budget-friendly commuter car or a rare classic you’ve dreamed of owning. By exploring the top auction venues, planning ahead, and understanding the nuances of online and in-person bidding, you’ll be well-equipped to succeed.
Take your first step today! Tap into online platforms like Copart or attend a Manheim preview day. Not sure where to start? Reach out to auction experts or subscribe to industry newsletters to stay informed.
Happy bidding — and happy driving!
