I attended my first powersports auction less than two weeks ago in Indianapolis. Man, it was fast.
Being a car fanatic, I have watched Barrett-Jackson collector car auctions on TV many times, but those go slow in comparison. During wholesale powersports auctions, units generally sell every 18-22 seconds, said Justyn Amstutz, vice president of sales and marketing for National Powersport Auctions (NPA).
It seems intimidating, but after a short while, I was able to quickly catch on. The auctioneer can be difficult to understand, but if you have a general idea of where the bid is sitting, you can pretty much figure out what he’s asking for next. Also very helpful, is the screen that sits on the auctioneer’s cart that posts the number of the next requested bid.
Before NPA’s event in Indy, Amstutz gave a seminar, and one of the best tips I walked away with is to participate. (We’ll have more tips in the upcoming issue of Powersports Business.) You’re not going to know if you’ll like auctions or understand them unless you try. So if it’s something you’re considering, I suggest picking an auction facility and registering. You might learn it’s too much for you, but you might also find it’s a helpful and successful tool for buying preowned.