Has anybody here attended an IAA auction? These are totaled cars for sale
by insurance companies.
https://www.iaai-bid.com/aucbranchinfo.aspx?branch=308
I would like to know what the approximate price is of a wreck that is 12 to
15 years old. Example would be a 1990 Nissan Maxima. Do they sell as low
as $200? $1000?
I called my local IAA auction center (Portland Oregon) and it would cost a $
200 entrance fee to attend and watch the auction. They would not give me
prices on previous sales.
Interested in getting parts cars for some of the autos that I own. I have
the acreage to store the cars. By example, even a wrecked car could have a
good transmission (several thousand $$$ rebuilt), window regulator and motor
(several hundred $ from the dealer) etc. etc.
If somebody could tell me that these old cars do in fact sell for a
reasonable price ($ 200 to $600) then I would pay the $200 annual membership
fee and go bid.
Thanks,
Ivan Vegvary
cyberzl1@yahoo.com - 27 Dec 2006 15:20 GMT
> Has anybody here attended an IAA auction? These are totaled cars for sale
> by insurance companies.
[quoted text clipped - 18 lines]
> Thanks,
> Ivan Vegvary
Unless it is something special(rare model, or high perfomance), $2-600
is certainly not unreasonable. But, to go to a repairable auction
looking for transmissions or engines is foolish. You typically can't
inspect or test drive the vehicles. You might get a cursory visual
inspection at that will be all. You must also consider that most stuff
sent to auction is going to be newer vehicles. There is older stuff,
but it is less common(usually isn't worth the trouble), and what does
end up there is getting dumped for some reason(besides the obvious)
Do you know anyone that might have a pass already?(body shop or other
repairable yard, etc) Typically can attend as a "guest" for free. Buy
the guy lunch, or a case of beer. Have you asked if you can go to one
auction on a trial pass? Not an uncommon practice.
JW
Ted Mittelstaedt - 28 Dec 2006 08:06 GMT
> Has anybody here attended an IAA auction? These are totaled cars for sale
> by insurance companies.
[quoted text clipped - 15 lines]
> reasonable price ($ 200 to $600) then I would pay the $200 annual membership
> fee and go bid.
A lot of them sell for $200 or less, or don't sell at all. I live in
Portland OR There's
two types of guys that go to these sales (other than the local wreckers
buyers)
The first are the guys looking for one specific make and model (usually
something
old/collectable/special/etc.) and they will show up at auction after auction
without
bidding until eventually they get what they want. The second are the guys
that
are like you who what to make some money on it.
The usual routine is to start out by buying yourself a car trailer and a
winch and a cherry picker
and get a heated garage. Don't screw with storing a lot of vehicles on your
property. It's
bad business, you want to keep the stuff moving to make the most money off
it. Just buy
as many cars as you can work on at a time. Store the parts you pull off,
not the vehicles.
For example, on tomorrows auction there's a 63 VW beetle up with front end
damage
and 97K on the clock. The ODO on that vehicle doesen't read past 10K if I
recall
so it's more like 197K. None of the normal wreckers will bid on that,
there's not enough
call for that old a vehicle. Instead some private person will buy it for
probably $350-$400,
pull out the engine and sell the engine and transmission on craigslist, then
pull everything else, down to
the doorhandles, off the car and start selling them on Ebay. They will
probably sell
all of those parts within the next 6 months and clear something like
1700-1800 on them, could
be higher if the fenders and glass are in good condition and they don't
break them
pulling them out.. The remaining hulk will be hauled down to Portland Auto
Wrecking, drive the trailer on
to their scale, unload the car, drive the trailer back on to the scale, then
go collect their
$70.
Don't get all starry eyed, though. While there's a lot of people who do
make a living
doing this, the stories of buying a car for $200 and selling one single part
out of it like
a transmission for $1000 are mostly fabrications. Remember all the local
wreckers are
going to be there bidding for cars too, and they know what cars there are
that contain
$1000 transmissions. If your idea is you will be able to do very little
work and make
tons of money, forget it. But if your willing to put in 3-4 hours a day
hacking away on
your hulks that you get, you can make some good pocket money doing it.
Ted
scosio - 29 Dec 2006 03:12 GMT
> Has anybody here attended an IAA auction? These are totaled cars for sale
> by insurance companies.
The first question you should ask is, "Should I buy a car at an
auction?" Read on...
http://www.ourcartips.com/car/should_i_buy_a_car_at_a_car_auction.html
sc
* - 03 Jan 2007 14:46 GMT
Ivan Vegvary <ivan@reelart.us> wrote in article
<1kpkh.5966$9H4.2468@trndny07>...
> Has anybody here attended an IAA auction? These are totaled cars for sale
> by insurance companies.
[quoted text clipped - 5 lines]
> I called my local IAA auction center (Portland Oregon) and it would cost a $
> 200 entrance fee to attend and watch the auction. They would not give me
> prices on previous sales.
>
[quoted text clipped - 6 lines]
> reasonable price ($ 200 to $600) then I would pay the $200 annual membership
> fee and go bid.
First of all, I cannot imagine investing in a late model "total" as a
"parts car." By the time you get around to using that transmission or power
window motor, it could be all rusted and corroded from outdoor "storage".
Cars sitting outside never really dry out without being driven down the
road, and a car stored outside over grass will rot out due to the moisture
rising off the damp ground.
Secondly, if you would be so kind as to inform me of the whereabouts of the
auction you propose to attend, I would gladly write to them and explain
that their licensing fee is still a bit too low to discourage hard-core
amateurs who want to "get a deal" on a single vehicle.
I once sat at a state surplus auction and watch two amateurs bid a broken
down, old-style (circa 1940s), cable-operated lift well beyond the price of
a brand-new, 9000 pound, four-post lift - and I regularly watch them bid
worn out police cruisers into the average retail prices of cars with much
less mileage and wear. (Due to extensive idling to keep the battery charged
for all the radios, lights, etc., police cruiser engines are considered to
have twice the mileage that actually shows on the odometer. That cruiser
sitting at the construction site with the lights flashing is idling for
eight hours.)
When this happens, many of the "regulars" along with most of the auction
workers stop what they're doing and watch these fools compete. Oftentimes,
a side bet or two is made as to where the bidding will actually go.
E-bay has, pretty much, followed the same route.....the mentality being,
"Hey....if I can outbid someone, it STILL has to be cheap because it is an
auction!"
I buy an occasional "total" through a friend who is licensed - giving him a
"spiff" for his trouble.
I would suggest you find someone who is licensed at this auction, become
friends with him, and have him do the same for you. Perhaps you could even
barter away something you do in exchange for his efforts......
.....but I still believe it is false economy to "invest" in a parts supply
that will likely deteriorate to junk condition before you can use it.
Ivan Vegvary - 04 Jan 2007 17:07 GMT
> Ivan Vegvary <ivan@reelart.us> wrote in article
> <1kpkh.5966$9H4.2468@trndny07>...
[quoted text clipped - 72 lines]
> .....but I still believe it is false economy to "invest" in a parts supply
> that will likely deteriorate to junk condition before you can use it.
While you make some interesting points in your above discussion, my
experience has been otherwise. I've had parts cars for my 1948 Pontiac,
1952 Pontiac, 1954 Studebaker and 1968 Camero for decades.
A lot of the late model car's parts can be shelved. Keep in mind that a
single fuel injector can cost $125 new and half as much at an auto wrecker.
Same thing is true for cruise control assemblies, computers, glass, extra
wheels so you can mount snow tires, etc. etc.
Ivan Vegvary
John S. - 04 Jan 2007 21:15 GMT
> Has anybody here attended an IAA auction? These are totaled cars for sale
> by insurance companies.
[quoted text clipped - 3 lines]
> 15 years old. Example would be a 1990 Nissan Maxima. Do they sell as low
> as $200? $1000?
I'm sure you could find one at $200.00 - the key would be condition and
what parts remained after the wreck.
But please do your homework on a rough but running car using
Edmunds.com. A 1990 Nissan Maxima that runs but is in rough condition
has no value according to Edmunds. You will be bidding on a very rough
car that doesn't run. It's worth $1,000 in top condition with low
miles and lots of accessories.
> I called my local IAA auction center (Portland Oregon) and it would cost a $
> 200 entrance fee to attend and watch the auction.
They are charging you the membership fee, which is reasonable. What
they don't want is a bunch of lookie-lews clogging up the aisles
ooohing and aaahing at every sale but not bidding.
> They would not give me
> prices on previous sales.
Likely because you are not a member. The only way to learn about what
the cars will sell for is to pay the fee and attend a few auctions.
> Interested in getting parts cars for some of the autos that I own. I have
> the acreage to store the cars. By example, even a wrecked car could have a
> good transmission (several thousand $$$ rebuilt), window regulator and motor
> (several hundred $ from the dealer) etc. etc.
No way to tell if the components are any good.
> If somebody could tell me that these old cars do in fact sell for a
> reasonable price ($ 200 to $600) then I would pay the $200 annual membership
> fee and go bid.
I'm not sure a reasonable price for a car is going to be $200 to $600.
It will depend on the car, how much is left, condition, how long it has
been setting out, etc. Depending on the auction you may still be
seeing totals from hurricane country.
> Thanks,
> Ivan Vegvary