How Do I Buy at a Bankruptcy Auction

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Buying at auction can be beneficial. Reason is that the seller really wants to get rid of his stuff. Sometimes someone selling due to a (potential) bankruptcy. Prices may or are low, but beware: there usually comes a storage auction of over 16%, plus VAT. And the rules are hard: bought is purchased directly pay for, nothing and no warranty exchange.

Steps
1. Find the right auction

What would you buy: a used office computer, furniture, house, clothes, car, art or curios? For everything there are specialized auction houses. In a large bankruptcy can be of everything sold at once.
Art, antiques and furniture is often sold through so-called auction rooms, everyone can contribute goods. There are about a hundred of these auction houses in the Netherlands, and several times a year they hold a sale.
For a house to be auctioned is usually organized in a separate auction, although can be. Several homes were sold simultaneously Bidding on a home is a different story and requires the necessary preparation.
For all other goods are auctions when there are supply itself. We discuss this further in hoedoe on forced sale of goods by bankruptcy, also called forced sale.

2. Traditional or online

Many auctions are now more or less gone online. Completely online, for example, the global auction eBay. Some auction rooms have their offer put online while the sales process itself quite done with a hammer in a room.
Note: If the bankrupt debt are still satisfactory, the auction will be canceled.

3. Compare the offers
Did you drop it on a good laptop, your eye a beautiful office furniture or company, please search the internet what this may be worth. Marketplace good chance that at the same site or a similar product for sale. The price there is, is the price you pay, plus any shipping costs. Decide for yourself what it is worth your desired product.

4. Look, look before you buy

Whether you go to a real auction room or online to offer, sure to keep it what the state of the product you want to buy. For an international basis for auction sale is that you buy something in the state in which it resides, "or in English" as is, where is ". So a scratch, a defect or a missing part, it can all occur.
But you have to take a real pig in a poke. "Not settle If, for example, exhibited a laptop is 'in order', or the auctioneer calls during the sale that he is properly working, then you can assume that he does. If subsequently discovered that the central processor is broken, then you are entitled to a refund of your money. But as example shows the DVD drive failure, then you have just bad luck.

5. Go dry run for a major purchase

Are you planning to do, such as a car or boat, a big purchase then it is not wrong even attend where you not going to buy. Auction first Look, do not buy! Go to the preview, which precedes each auction. Treasure of several products in what you think the quality is and what it can muster. And then pay attention to the bidding process. How fast is that? How far do people have? The price is as high as you thought? Traders have the advantage that they can be offset, you probably do not. VAT
Bidding can sometimes over the internet.
This 'dry run' is actually for an online auction like eBay. Keep only the last hour in the holes, or possibly only the last ten minutes. Then you see how the price can rise suddenly still. Very early offer rare sense.

6. Read the terms and conditions

Make sure you know the auction conditions. Usually it is a condition that you pay immediately after the auction, sometimes even cash. And usually you have the article also directly take - 'this weekend can I borrow a trolley neighbor' is not there.

7. Calculate your total prize.

In addition to the price offered is always a storage auction, often 16%. And that whole amount is another tax. Together, more than 38% extra. Especially in older goods from VAT ceased to exist. But then the auction storage are higher again.

8. Bidding is buying

An auction often seems like a game, and that's it: a game of bidding, winning and losing. An auctioneer does sometimes hardly a standup comedian. But the game will be played hard: offer is not optional. Raise your hand means accept that bid. Excuses and excuses you make at home.
It is a matter of feeling, assess and experience to know from the amount you have to bidding. If others feel that something you really want, they can be fun to experience to drive. The price for you

9. Keep yourself to your limit price

Set yourself up for what a product is worth your. Remember that you can almost always buy except a house. Same product somewhere else Always keep in mind the store. Because buy at auction must be nice.
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