Win at Salvage Car Auction — But Lose Your Shirt? The Customer’s View
You are at the salvage car auction. Palms begin to sweat. Eyebrows high, with a pulse to match. Leaning so far forward that you are breathing down the neck of your competitor. Syllables pouring forth from the auction podium like a stream frothing and crackling as it tumbles over a waterfall.
- Is that guy in the garage uniform going to stay in this?
- How about that woman who came from her office job, still in her pinstripes?
- Is that young dad with the baby on his chest going to hang in there?
If this situation sounds familiar to you, then you have been a participant in the auctioneer’s fantasy: the bidding war. Most likely, you have been its victim, returning to your garage, lot, or private driveway muttering, “How could I have paid so much more than I had planned for this middling set of wheels? And how on Earth am I going to find somebody who will want it more than I did — an hour ago? I wonder if I can get my deposit back?”
The auction is based on gripping psychological principles. We’re going to explore these principles, and how you can fight back, over the next few weeks. For today, a brief summary using the scenario we began with will get you started off the crumbling path of victimhood and onto the Autobahn of victory.
If you don’t want to throw your money down a CESS-pool, it is worth committing the acronym C.E.S.S. to memory, Staying out of the CESS-pool means you know about Competitive environments, the twin principles of Endowment and Social Proof, and the fact of Scarcity. Take the CESS out of your auction strategy and put money in the bank.
At RideSafely, we are committed to making the auto auction process as smooth as possible for both buyer and seller. Our online auto auction systems create the largest possible vehicle market for our customers while drawing buyers through a wider selection.
Originally published at auction.ridesafely.com on October 10, 2016.