Buying from Auction... is it worth it?

[Sn0wcr45h]

Was thinking about going to mannheim auctions at the end of feb to look at some bikes.
So the below bike, and see it has PSB stickers over it... anyone know whose this is, and what kinda fall its had?

Also, has anyone bought bikes from an auction before? How much do you reckon this would go for?
If i go, it will be my first time at a bike auction. Any tips appreciated...

2006 Hyosung GT250R Motorcycle - Used Car for Sale - Manheim

[zebathin]

I went to the Pickles motorcycle auctions, and the opening price for a 1988 cbr250 with more than 80 thousand k's, serious fairings damage (the right hand foot peg was screwed into a metal plate welded to the frame!) was 4k!

It looks like you can get some seriously good deals - but often the 250's are massively overpriced! Be very sure what you think the bike is worth - and DO NOT bid over that limit! You can get a bit carried away at auctions pretty easily. Keep in mind you're going to have no history on the bike at all, no idea what the previous owners were like, and no idea what maintenance they've tried to do on it.

Last off, keep in mind that you can usually ask them to start the bike for you - which I'd highly recommend.

[McGoo]

I bought my bike from Manheim Fowles a few months ago. There were 18 bikes like mine being sold, and I knew it was a lucky dip as far as mechanical reliability went. I got my bike home and still havent had the time and/or money to get it running well enough to register it. I spoke to another guy who bought the same bike at the same auction who took his bike home, added fuel, took it to the pits, and was riding it a week later. As long as you realise you cant ride or start the bikes, and you have no idea what the engine internals are like, then go ahead. You may get a bargain, you may get a lemon.

As for price, I would guess maybe $2000? It doesnt show the odometer, so that will have a big influence. Dont forget that you need to add roughly 20% to the hammer price for all the fees and surcharges. They even have a surcharge for paying cash now, so be aware of the final price when you are bidding. Also, work backwards from the total price you want to pay including insurance, registration, pits inspection, and maybe some dollars for new tires if need be. Minus that amount from your pre-determined total, then work out the maximum hammer price you want to pay, and stick to it. It's bloody easy to get caught up in the excitement and bid more than what you want, and that is what the auctioneers want to happen. A friend who buys lots of cars at auction doesnt even bid himself anymore because of this reason, he sends an employee down with a fixed limit. She could care less about the cars, so sticks to her limit.

[Sn0wcr45h]

Thanks guys.
Was possibly interested in getting the above bike, but if i cant do a proper inspection, and its more or less pot luck, then i think I'll give it a miss. Was hoping that the bike would sell closer to the 1k mark, but if we're talking 2k upwards, then theres no point. I'll just try fixing the old bike i have.

[McGoo]

Thanks guys.
Was possibly interested in getting the above bike, but if i cant do a proper inspection, and its more or less pot luck, then i think I'll give it a miss. Was hoping that the bike would sell closer to the 1k mark, but if we're talking 2k upwards, then theres no point. I'll just try fixing the old bike i have.

If you have the time I would still head down and have a look. You never know, it may go cheaply. There was a Ducati in good condition last auction, no damage, that went for something like $3000 or $4000. I had guessed maybe double that at least.

[Sn0wcr45h]

thanks again for the updates.
reckon i'll go down and have a look myself. I have a pricepoint, and am hoping the bike comes in under it.