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It qwill be sold when it goes to auction. No sooner unless you or your dad take the time to sell it. If the auction is not till Jan. then it wont sell till Jan. If its next week then it will sell next week.
My dad said he'd be lucky to even make 4k from it, implying that he didn't have a reserve on it. So how will the auction ppl price the car? They'll probably start at 2k and work their way up w/ bids??
They will ask for an opening bid maybe $2000, maybe $5000, if they get none, they will drop a bit until they get a bid. If the first bid is $500, they will start there. Whomever bids the most will get the car. It could be $500 it could be $5000.
My dad said that this auction has auctions held 1-2 times a week. So the bottom line is that i should expect this to be sold by the latest mid december?
My dad said that this auction has auctions held 1-2 times a week. So the bottom line is that i should expect this to be sold by the latest mid december?
It will sell on the date it is set to appear at the auction. The only people who know that is the auction house and your dad could find out since he is the one selling it. That timeframe does sound reasonable though. It WILL sell if there is no min, but for how much is anyones guess. Honestly, your dad is taking a heck of a risk versus knowing what he could sell it for privately or at the dealer. If it's an active and well attended auction you could make out well, if it's not, he may have just sold a car for thousands less than he could have traded it to the dealer without any hassle whatsoever.
OP, are you 15 years old? Why don't you focus on getting your drivers license first, and be grateful to have any car. Some day when you grow up and get a job you can buy a car with your own money.
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