Received this [article](https://in-cyprus.philenews.com/news/local/bank-of-cyprus-cars-on-public-auction-on-tuesday-prices-start-from-e300/) today and it was the first time I had heard of such an auction.
Does it happen often? Are there any good finds typically? I’m used to American auctions (guy talking at 100 words a sec and people raising hands or signs). Is it done different here? Thanks.
3 comments
I was looking for similar information but on real estate auctions. I only found cars https://www.bankofcyprus.com/en-gb/Personal/the-bank/auctions/auctions-cars/
You can see the pics and makes.
I heard of people buying houses off auctions that the banks repossessed at a better rate
Tbh, it’s not really worth the effort imho.
I went once (I didn’t buy, just went with a friend). Seemed like the cars were fairly reasonably priced. Maybe slightly lower than usual, but they’re “as is” sales so more risk. Not sure if you can actually go and check them out.
From what I remember it was more dealers and mechanic types I guess looking for stuff to fix and resell. Plus the cars weren’t really that great anyway. Mostly older common models that you can find anywhere.
Can’t hurt to go. I guess it’s possible to get a decent deal, but don’t imagine you’re gonna get a massive discount on buying it from a dealer or privately.