Regal Auctions

[joda85]

There's a particular vehicle I am interested in (which I believe is a bank repo) that has a reserve price of $7000. Does anyone know at what price bidding starts at when it goes on the block?

[ercchry]

does it matter?

if it has a publicly know reserve price, and someone seriously wants it there will be a bid of $7001.00 (or whatever the minimum increment is) in no time :dunno:

[carson blocks]

Originally posted by ercchry
[B]does it matter?


Exactly. It doesn't matter what price it starts at, just what price it ends at. OP, Don't put too much stock in the "reserve" price either. Most of my winning bids there have been below reserve, and are negotiated in the back room. Also, the number they publish is mostly a fabrication. I've seen many cars sell for under their published "reserve" price without Regal needing to make a phone call to the owner which tells me the auctioneer can see a true reserve price in the computer and it's not the one on the screen / website.

[carson blocks]

Also, if there's just one particular car you're interested in you don't have to wait for sale day. Head down on a quiet weekday and ask for the keys. You can start the car and spend some time properly checking it out, but can't drive it of course. If you want it, make an offer and have Regal call the owner and try to make a deal. Don't forget about buyer's fees, and consider all cars to be truly as-is regardless of what they might tell you about their arbitration policy.

[firebane]

The words reliable and regal do not match. Worked there for a day and every vehicle I got into had some stupid issue with it.

[carson blocks]

Originally posted by firebane
The words reliable and regal do not match. Worked there for a day and every vehicle I got into had some stupid issue with it.

I've done ok there. You just have to realize that every single vehicle is there for a reason. If you can figure it out and fix it / live with it, then great. If you can't figure out why it's there, give it a good hard look.

Also, if you happen to get a mutt, don't be afraid to put it right back through the next sale and cut your losses. I've thrown good money after bad trying to fix up auction junk one too many times.

[ddduke]

Don't even waste your time, the place is full of retards that don't understand market value at all.

They'll start the bidding at something stupid like 20k then quickly drop to 5, then work their way back up. It's literally hundreds of brown guys and huderites that drive up prices. If the car's even remotely decent then it'll sell for market value because some idiot will assume he's getting a hot deal.

I saw an mdx with thousands in damage (whole car was keyed, dash was covered in lights, seats were torn and a huge hole in the stereo screen, over 300k on the odo) sell for 5k, which in the end was $5750 after taxes and fees. Market value on a clean one with km in the 200s is about $5000. It's pathetic.

[G-ZUS]

Originally posted by ddduke
Don't even waste your time, the place is full of retards that don't understand market value at all.

They'll start the bidding at something stupid like 20k then quickly drop to 5, then work their way back up. It's literally hundreds of brown guys and huderites that drive up prices. If the car's even remotely decent then it'll sell for market value because some idiot will assume he's getting a hot deal.

I saw an mdx with thousands in damage (whole car was keyed, dash was covered in lights, seats were torn and a huge hole in the stereo screen, over 300k on the odo) sell for 5k, which in the end was $5750 after taxes and fees. Market value on a clean one with km in the 200s is about $5000. It's pathetic.

:werd: Bank Repos are the worst

[joda85]

Thanks for the info guys.

I was actually able to stop by last night to catch some of the action. There were a lot of people as the stands were pretty full. It seemed like they were just there to look at cars go by because no one was really bidding. As for me, I was trying to understand how it works. It seems like they start bids around a thousand below the list and work their way up.

It's actually a MDX that I'm looking at with 168k. Looks decent in and out with the exception of a few small rust spots above the windshield. However, I need to go back to inspect the engine. Now I'm not a mechanic but any suggestions on major things to look for under the hood?

[carson blocks]

Originally posted by joda85
It's actually a MDX that I'm looking at with 168k. Looks decent in and out with the exception of a few small rust spots above the windshield. However, I need to go back to inspect the engine. Now I'm not a mechanic but any suggestions on major things to look for under the hood?

When I have time to properly check something out, I cold start it with the hood open, listen for any rattles on startup and see how quick the oil pressure comes up. How low does the oil pressure go when it's fully warmed up and in gear with your foot on the brakes? While it's cold and on high idle, does the driveline clunk when you move the shifter from reverse to drive with your foot on the brake? Make sure the mileage seems correct. Are the pedals, drivers seat, and carpet worn excessively for the stated km? Are there any leftover oil change stickers in the doorjam or underhood maintenance stickers with a higher mileage than that indicated by the odo (you'd be surprised just how many of these I've caught). Play with absolutely everything inside. Try every window, feature, switch, and gadget. Know what works and what doesn't.

Remove the oil cap and see how much blowby there is coming from the crankcase. See how much of this goes away when it's fully warmed up. Does the oil cap have a brown-white emulsion (slime) underneath? This is moisture in the oil either from short trips, an improperly functioning PCV system, or from a failed gasket / casting leaking antifreeze in to the oil. If you're seasoned around cars, dip a finger in to the sludge and touch it to your tongue. If the emulsion is from antifreeze, you'll taste it immediately. Last thing to check in the oil cap, is if you can see any engine internals, are they nice and clean or are they covered in black sludge. This can be indicative of the prior owner's maintenance practices.

Look in the antifreeze overflow. If there is any oily residue in there, walk away. Check the rad for green areas that indicate rot. Squeeze the hoses and see if they're firm or rotted. Check for visible oil leaks. If the car has been detailed (everything is nice and shiny under the hood) you'll have to check very carefully as most of the leak evidence is likely washed away. Check the inner unibody structure for rust or signs of collision. Check around and behind the strut towers for rust, check the rad support and surrounding metal for signs of damage or repaired damage. Poke your head under the rear and check for similar signs of collision / rust damage. Weird waves in the roof or funky door gaps are also a giveaway of a possible collision history. Are the tires the same model and size (important on AWD/4WD), are they worn evenly or do they have feathering / cupping / unusual wear that indicates a possible suspension/alignment problem? With the car fully warmed up, does the exhaust smell ok or rich? Any carbon or oil buildup in the tailpipe? Any antifreeze smell from the tailpipe? I usually bring a portable code reader and quietly check the codes, especially if there is a light on. Get or borrow one if you can.

Before you go, check out the owner's forums and see what the common issues are for that year/model and give those areas a good look. That's usually the quickest way to inform yourself on a particular kind of vehicle. Also, try to find out where the vehicle is from. Between asking Regal staff, and any hints left in the glovebox etc. you can often figure out if it's from a big dealer, small dealer, or private consignment. If it's from a small dealer, be suspicious. If it's junk enough not to sell on a shady used car lot, you don't want it. If it's from a big name dealer and you can see it's likely there because of high mileage or maybe cosmetic defects, it might be ok. Private sales are hit and miss. I've had some awesome stuff from guys who I assume just don't want the hassle of selling and I've had some patched together junk that no one in their right mind would sell from their home. Lastly, listen to your gut. If the car's not right, walk away. It ain't the only MDX out there and I'd rather walk away from 3 good ones than buy 1 problem child.

Sorry for the essay, but probably well over 100 of my 150+ cars have come from auctions so hopefully you can find some tips in this wordy mess. Auctions and beaters are kinda my thing.

[bourge73]

Problem is you have to check these out before hand, unless you are crazy and just go down and bid without looking first, and I don't think you will be driving it/test driving? Would you ever buy a car without driving it? and especially from an auction, as there reasons why it is there in the first place. The only deals are at the dealer auctions, and even then the prices are starting to get high.

[Graham_A_M]

You really really have to be very careful with anything you find at auctions.

Most times when dealers get trade ins that are huge piles of shit that they would NEVER make their money back on, they just sell it as-is to an auction. Since that way whoever buys that wreck wont trace it back to the dealership, and they dont have to worry about their reputation being tarnished at all.

Bank Repos really aren't much better. If you dont have the money to make the car payments, whats the easiest thing to not do since it costs money? Maintenance. So quite a few of the repos will be badly neglected needing at the very least a good share of repairs & maintenance.


I'd avoid the auctions entirely, thats you best bet. Their SO hit & miss, its nuts. Sometimes you can land a fairly decent vehicle for a somewhat decent price, but really the odds are even less doing that then buying something off of Kijiji.

You have to consider this. If there was nothing wrong with a vehicle, why would someone honestly put it through a typical auction such as Regal anyway? they'll likely not get any more for it while doing so. Most times the cars are needing so much work that they cant sell it privately, so they just put it through the auction and let some other unsuspecting bidder deal with it in the end.

[M.alex]

Whatever happened to that Ferrari they were auctioning off? Did somebody buy it? I remember reading about how it had undercarriage damage.

[Dalking]

Originally posted by M.alex
Whatever happened to that Ferrari they were auctioning off? Did somebody buy it? I remember reading about how it had undercarriage damage. from what I heard from an acquaintance that flips regal cars, it sold for 10k over reserve to some young middle eastern kid

[THE GOVERNATOR]

I think Regal Auctions will allow you to purchase during the week before the auction, But.. I think then you have to pay the sellers reserve price. Check any an All VIN #'s of any vehicles you may have been interested in. In some cases the seller reserve price is lower than what it would go for at auction. Also beware of smaller "private" dealers Shilling other bidders.

4 years ago I came across a silver 02 Subaru Imprezza WRX with 148,000kms with a seller reserve of $5400, but it had a jenky aftermarket alarm system wich I'm pretty sure the brian was fried. only wanted to start an the doors would lock/unlock every few mins..

[HiTempguy1]

I'm surprised everyone is so against buying an auction car...

my understanding is that at some point, if it is taking too long to sell a car on a dealer lot, it is worth their while to simply move the inventory (even for a loss) so they can bring more saleable cars onto the lots.

I've had fine experiences with auction vehicles, but you definitely need to do your due diligence and lots of people pay WAY too much.

[firebane]

Originally posted by HiTempguy1
I'm surprised everyone is so against buying an auction car...

my understanding is that at some point, if it is taking too long to sell a car on a dealer lot, it is worth their while to simply move the inventory (even for a loss) so they can bring more saleable cars onto the lots.

I've had fine experiences with auction vehicles, but you definitely need to do your due diligence and lots of people pay WAY too much.

Regal sells A LOT more junk aside from dealer stuff. Think of stuff NOBODY wants that doesn't stop, busted mechanical, busted electrical.

If its not from the dealer you best be checking it with a fine tooth comb.

[ROBOCOP]

Originally posted by joda85

It's actually a MDX that I'm looking at with 168k. Looks decent in and out with the exception of a few small rust spots above the windshield. However, I need to go back to inspect the engine. Now I'm not a mechanic but any suggestions on major things to look for under the hood?

These MDXs scream transmission failure as they were junk trannies to begin with. Look up transmission problems for these MDXs, Pilots, and Odysseys and educate yourself on that first.

[Sugarphreak]

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[ExtraSlow]

Yep. Sold a beater Lincoln there about eight years ago.

[Sugarphreak]

...

[Anomaly]

Originally posted by Sugarphreak


How did you go about getting it listed there? And also were you happy with how much it went for?

Sold my F150 there last fall. Just show up with the registration, fill out the details on your vehicle and sign their form. That's pretty much it. I was in and out in like 10 minutes. I wasn't particularly happy with what it sold for, but It did sell...so :dunno:

[carson blocks]

Originally posted by Sugarphreak
BUMP!!!!

Thinking about putting my Isuzu up on the auction block, anybody ever done this?

I'd put a reserve on it for sure. I don't know that the buyers there will have much interest and the high bid may be a lot lower than you expect.

[Sugarphreak]

...

[ExtraSlow]

It was easy, but as for "happy" about the sale price, no, not really. But in my case, it was a car I needed gone. I put it in unreserved, hoped for six hundred, got three hundred. It was a piece of junk though.