For years I had an ongoing debate with an auction executive about whether cars where bought or sold at auction. There where many conclusions involving this brain teaser, but the real issue escaped a true definition.
* A vehicle deteriorates mechanically, physically, financially, and even emotionally. There is no order of importance here and there are others means by which a vehicles becomes less or more desirable within a live, competitive-bid auto auction. But how the actual cash value (ACV) is derived at is the most important component in defining and answering this critical question in today's market.
* Consider this: you are a buyer at auction who has no limitation as to what you can spend on a car. Sixty days later, having removed your crown, you drop your cars out of the sky and return from the auction with a check for every vehicle, right? Wrong. You curtailed that vehicles future lifespan to severely when you got the ACV wrong and now are faced with factoring in that units mechanical, physical, and emotional values. Perhaps it becomes a bit more clear as to why it can't be sold at auction; this vehicle needed to be bought on the money first... and a vehicle bought on the money is sold!
* A vehicle deteriorates mechanically, physically, financially, and even emotionally. There is no order of importance here and there are others means by which a vehicles becomes less or more desirable within a live, competitive-bid auto auction. But how the actual cash value (ACV) is derived at is the most important component in defining and answering this critical question in today's market.
* Consider this: you are a buyer at auction who has no limitation as to what you can spend on a car. Sixty days later, having removed your crown, you drop your cars out of the sky and return from the auction with a check for every vehicle, right? Wrong. You curtailed that vehicles future lifespan to severely when you got the ACV wrong and now are faced with factoring in that units mechanical, physical, and emotional values. Perhaps it becomes a bit more clear as to why it can't be sold at auction; this vehicle needed to be bought on the money first... and a vehicle bought on the money is sold!
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