There are common ways to save money when you are shopping for something, such as shopping at certain times of the year, looking for deals and sales, saving coupons, using store reward cards, and so on. But there is one method that is not very well known, and depending on what you are buying, it could potentially save you a lot of money. Ask Men explains in “5 Things You Didn’t Know You Could Buy At Auction” what auctions are worth checking out.
Many people aren’t aware what sorts of things can be bought at an auction, or are only familiar with auctions selling rare and precious items, so they don’t tend to consider them as options when making major purchases. One hidden gem is land which is being sold at an auction, often because a bank has taken possession of it or property taxes have piled up. Though this does offer the opportunity to get the land at a discount, be aware that your state’s laws may require a notice period and other legal requirements before you can take possession. In addition, the original owner may have a redemption period, during which he can reclaim the land by paying the amount owed and a small additional fee.
Car auctions are also well worth a visit, as there is always the chance to buy a seized or repossessed car for a fraction of its value. Of course, the risks of buying an unknown car include the fact that its maintenance history is unknown, but that wild card is not always a problem. There are risks involved in any auction, but with the potential savings available, it is well worth checking them out.