[onewhippedpuppy]

Thanks all! For those of you that are struggling, just keep grinding your way through it and looking for new opportunities. Sometimes you'll find them in places you didn't expect. I know that sounds like a fortune cookie, but it's been very true for me.

Originally Posted by Scuba Steve

Congratulations! I've always wondered, how well does buying at auction work? Are the savings very good?

I buy exclusively online through simulcast auctions, which is basically a live auction that is also broadcast online. You can bid online in real time, or set a maximum bid and the computer will automatically bid for you. This makes is possible for me to buy a car while at work, and never look at the computer. Most of the live auction cars have 3rd party condition reports, which are the only ones I will consider. It removes most of the risk of buying sight unseen, thus far I haven't been surprised. Savings are good but not as much as many think, especially on nice clean cars that have multiple bidders. Average prices are essentially trade-in price. I do well on Porsches because I see the stuff that others don't, like the value of an Aerokit or other desirable options. I also add a lot of sweat equity when I catch them up on maintenance, fix the little issues, detail, etc. I have bought some very nice cars at auction.