Buying and selling motorcycles at auction: how to make a profit?
If you are thinking about making money by buying and selling motorcycles, know that this is a very promising market. By combining your intentions with the advantages of selling motorcycles at auctions, the scenario can be even better!
But Care and attention must be exercised to ensure profits. There are a series of details that must be evaluated to avoid trouble. With some care, it is not difficult to ensure profit margins — which can be very interesting.
In this article, you will discover that Is it worth investing in auctions? and profit from buying and selling motorcycles. Continue reading to understand what a motorcycle auction and what precautions to take before and after finishing.
What is a motorcycle auction?
One auction, or public auction, is an event in which participants compete to acquire a good through bids. At the end of the auction, the one who submitted the highest bid will be the bidder and you can take the lot. In the case of a motorcycle auction, the lot is one motorcycle:
- disposed of due to non-payment of financing;
- abandoned after seizure;
- recovered by insurance companies;
- taken to auction by companies after renewing their fleet;
- liquidated by construction companies after some damage.
How to profit from buying and selling motorcycles at auction?
With attention and care, it is not difficult to avoid slips and ensure excellent profit margins when selling a motorcycle at auction. Below, check out some simple tips to avoid headaches after buying a motorcycle.
Make financial planning
First of all, It is essential that you make a good financial planning. There are important points to consider before submitting your bids. After all, no matter how cheap a car at auction may seem in relation to the FIPE table, there are costs that you need to take into account. For example:
- possible repairs to the vehicle;
- auction fees;
- vehicle documentation;
- vehicle transport;
- 5% commission when auctioneer.
Carefully study the auction notice
You must read all the information in the auction notice. This document contains everything you need to know about the auction stages and the conditions of the property. With this measure, you avoid unforeseen events and guarantee the main basis for your decision-making. In the notice, you will find details such as:
- origin of the motorcycle;
- condition of the motorcycle;
- documentation conditions;
- fines and tax outstandings;
- payment terms at closing, etc.
Inspect the motorcycle
A mistake that many bidders make and are traumatized by auctions is not inspecting the motorcycle before submitting bids. Whether because they participate in a online motorcycle auction or because they trust the auctioneer, many people buy the lot and only later discover that they got into trouble.
It is very easy to avoid this unpleasantness by paying a visit to the motorcycle location or receiving relevant information that you have done so. Although you cannot start the motorcycle, it is possible to have significant impressions of the true condition of the motorcycle by checking it up close. Additionally, consider:
- have the company of a mechanic to assess repair costs;
- check the motorcycle's license plate to find out more about its history;
- If it is from an insurance company, assess the risks of selling a damaged motorcycle.
As you can see, there are details that you should consider before purchasing a motorcycle at auction. By taking these precautions, it is possible to guarantee great profits and avoid common losses when buying and selling motorcycles.
Did you enjoy learning about these tips for buying and selling motorcycles while paying little and earning a lot? Sato Leilões has a long history of success in this market. Do you want to get to know us more closely and discover the advantages you have in selling your lots with us? Then, contact and clarify your doubts!
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