Car Auctions?

What's Up everyone,

This guy that lives in front of me keeps buying new cars and I keep seeing him sell them. I asked around a couple of ppl and they said that his probably getting them wholesale / auction price or wtv and selling them but apperantly you need to have a licence to enter auctions etc...

Anyone know how this works?

Where are the auctions held? How do get a licence to re-sell etc...

Interested in running this on the side for an extra income...

You don't need a license to resell, it's actually something of a beef that the APA has with the Quebec transport ministry. Auctions are announced in newspapers all the time.

I go to an auction place from time to time and there are some really good deals. You just need to pay 5-10$ entry, 500$ cash for car you buy same night, and then have the next day to pay the rest. uddy bougth a buick rendez vous and sold it for profit. Not much, but still a small one.

Here's one:
http://www.jardineauctioneers.com/english/#
you can check out the results, some go for very few pennies

Those aren't real auctions. Those are just places for people who are too cheap to have a bonded SAAQ license

Gregster said:

Those aren't real auctions. Those are just places for people who are too cheap to have a bonded SAAQ license

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Dealer licence is required to access car auctions.
License requires $100,000 bond as mentioned
There are 3 auctions arround montreal. 2 are in St-Eustache (adessa & manheim), 1 in Ville Saint-Pierre (encan st-pierre).

all other auctions are bullshit and prices are too high to realize any profit from sale. Encan St-Pierre is borderline.

Forget about doing this on the side line, it is not realistic! What you know about cars and what you need to know to be a car dealer are two very different things. Don't think that because you like cars that you know what it takes to succeed in this business. There is constant cut-throat competition and newbies get taken advantage of by the more experienced guys! I can almost guarantee you that you will be either overpaying for cars or buying pieces of shit thinking you got a good deal.

SI tu veux faire une passe avec des véhicules, magasine sur IAAI ou Copart, surveille les deals et importe ici.

tip-c said:

Dealer licence is required to access car auctions.
License requires $100,000 bond as mentioned
There are 2 auctions in St-Eustache (adessa & manheim), 1 in Ville Saint-Pierre (encan st-pierre).

Forget about doing this on the side line, it is not realistic!

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It's just not those 2 auctions.. You have access to an entire an network with transport already arranged, all you do it pay for it or drive it back. It's not something you can do on the side though, selling cars requires 100% of your time. It's better to "specialize" in certain makes, models etc rather then trying to sell a bunch of random stuff. In Quebec the locals seem to love Aveos, Cobalts, Civics, Corollas... The first 2 I mentioned sell for CHEAP at auctions, even after fees you can make a decent amount off each car. The best thing to do though is have buyers already lined up with a deposit in hand... Nothing worse the getting stuck with a car.

Stick with newer cars, Less headaches and usually people are more serious. Older cars ALWAYS require work, have a few cosmetic issues and the clientel always seems to be nothing but trouble. Example- Buy 99 Tercel at Adessa for 600$, Try to flip for 1600$. Guy gives you 1400$ then expects a new car. Salvage cars get them from Ontario since everything in Quebec get's branded right away.

Going to these "public" auctions are a shit show thanks to "get rich quick TV shows" I've seen people buying complete beaters for absurd amounts of money. Good luck to them.. Honestly it's always shitty trade in's or cars almost ready for the scrap at these places. Occasionally you get something worth while but very rare. When you do get something good they once again sell for absurd amounts of money... People who call themselves "dealers" that get cars from questionable sources just dabble around this industry and give everyone a bad name.

Gregster said:

It's just not those 2 auctions.. You have access to North America with transport already arranged, all you do it pay for it or drive it back. It's not something you can do on the side though, selling cars requires 100% of your time. It's better to "specialize" in certain makes, models etc rather then trying to sell a bunch of random stuff. In Quebec the locals seem to love Aveos, Cobalts, Civics, Corollas... The first 2 I mentioned sell for CHEAP at auctions, even after fees you can make a decent amount off each car. The best thing to do though is have buyers already lined up with a deposit in hand... Nothing worse the getting stuck with a car.

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Yes you are right! You do have access to North America. The already arranged transport is much to expensive. If you buy from the US and want the car delivered by to Montreal, forget making any profit. Transport company will rape you on fees, brokerage for their hastle of having to cross the boarder. If you bring the car over the boarder yourself, you save a lot of money but you need to be aware of what you are doing in terms of customs clearing and paper work involved as well as the process in which things are done. In either case, no one imports cars from the US anymore. That's opportunity existed in the past, not any more. Prices have reajusted to close the gap in the price difference.

tip-c said:

Yes you are right! You do have access to North America. The already arranged transport is much to expensive. If you buy from the US and want the car delivered by to Montreal, forget making any profit. Transport company will rape you on fees, brokerage for their hastle of having to cross the boarder. If you bring the car over the boarder yourself, you save a lot of money but you need to be aware of what you are doing in terms of customs clearing and paper work involved as well as the process in which things are done. In either case, no one imports cars from the US anymore. That's opportunity existed in the past, not any more. Prices have reajusted to close the gap in the price difference.

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No way! Never let them do the paper work.. just get the car dropped off at a depot in the USA. Do the paper work yourself or drive down to pick it up if the auction is close. Certain cars are still kinda worth it depends what your client is looking for. Audi's, Lexus etc car be had for cheaper and don't require expensive mods to be legal in Canada. You buy them with a few thousand K on the clock. A good seller now are actually Buick Enclaves of all things...

Let's not forget that with a bond you get an X plate and the ability to use the dealer line at the SAAQ while the other saps have to wait. As I mentioned though you always need to be moving stock to make money. Never let things sit around too long, if you have a car that does happen to linger toss it back in the auction.

Gregster said:

No way! Never let them do the paper work.. just get the car dropped off at a depot in the USA. Do the paper work yourself or drive down to pick it up if the auction is close. Certain cars are still kinda worth it depends what your client is looking for. Audi's, Lexus etc car be had for cheaper and don't require expensive mods to be legal in Canada. You buy them with a few thousand K on the clock. A good seller now are actually Buick Enclaves of all things...

Let's not forget that with a bond you get an X plate and the ability to use the dealer line at the SAAQ while the other saps have to wait. As I mentioned though you always need to be moving stock to make money. Never let things sit around too long, if you have a car that does happen to linger toss it back in the auction.

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LOL this is becoming a two way convo between me and you. I would love to carry it on for the sake of the op but by now i think he should get the point. In any case i gotta run. I was nice talking to ya!

tip-c said:

LOL this is becoming a two way convo between me and you. I would love to carry it on for the sake of the op but by now i think he should get the point. In any case i gotta run. I was nice talking to ya!

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BRB going to buy a Sunfire off Lespac and flip it for a million dollars