Auto auctions are a method of selling new, and most often, used and new cars based on auction system. Vehicle auctions can be found in most nations, but are often unknown to most people. This is, such as in the case of the USA, because this a protected source for used car dealers. Since 1948, the NAAA has been helping colleagues in the remarketing community. The National Auto Auction Association consists of over 300-400 domestic and international auctions. This organization demands that its members meet certain requirements and operate secure, neutral auction settings. In other countries, such as Japan, auto auctions are well known and used by most people.
In the USA, auto auctions are relatively unknown to the public at large, but play a major role as a wholesale market for second-hand vehicles. Most auto auctions are closed auctions, meaning only dealers can use them. There are also auctions that are open to the public. These auctions are a primary outlet for financial services firms to dispose of their large volume of off-lease returns, for rental and other companies to sell off their aging fleets and for car dealerships to dump trade-ins or other unwanted inventory.
A Car dealer auction is a specialized form of auction.
Millions of vehicles are sold at dealer auto auctions every year. These auctions are restricted for the general public and only licensed dealers can participate. Prices of vehicles sold at dealer auctions tend to be lower than those advertised on any dealers lot. Owners forgot a potentially higher sticker price to take their inventory to a dealer auction where it will be auctioned off for thousands less than retail for a number of reasons.
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