By: Gov Auctions | 14 November 2012

5 Most Popular Types of Auction

Auctions have been part of human societies for at least two and a half thousand years, with everything from boats and houses to cars and memorabilia having been auctioned off. Regarded by many as one of the best opportunities for both the buyer and the seller to get the deal they want, auctions have only become more popular over the years, and these days you can find an auction for just about anything. The following is a brief look at the five most popular types of auction nowadays.

Car auctions

Buying a car at auction has become an increasingly popular way to make what is a very important purchase, and apart from providing you with access to a large amount of vehicles for sale, there are also some fantastic deals to be found at auction as well. Government car auctions in particular have become an easy way to find vehicles in good condition, with all the necessary supporting paperwork, and even private vehicle auctions can present some marvellous deals, especially in the case where people are looking to sell quickly.

Home auctions

Selling your home via auction is one of the smartest ways to get the maximum amount for the sale, and by having a reserve price as a minimum that you are willing to accept, you really do have nothing to lose. The only real disadvantage of home auctions is that bidders generally need to be there to take part, but if your place is good enough to draw some attention, your home auction can certainly still pull in quite a large crowd.

Estate auctions

When people die, they usually leave behind quite a large amount of property, ranging from houses, cars and land, to dishware, clothing, art, furniture and various knick-knacks, and an increasingly common way for family members to deal with this property left behind is to auction it off. You can have items auctioned off one at a time or even auction all of it as a package, but regardless, if you are looking for a quick and easy way to deal with a deceased friend or family member’s estate, auctioning it can be a great solution.

Land auctions

One of the older forms of auctions, land auctions remain an extremely popular way to sell parcels of land, whether large or small. The big change in land auctions over the years has been that it is becoming increasing common for them to be held online, however you would still likely want to visit the land in person prior to the auction starting, just to be sure you know what you are bidding on.

Horse auctions

For centuries, horses have been sold at auction – usually in the spring – and this has become a popular practice in many different parts of the world, from Egypt to Australia. There will always be extensive amounts of information provided about each horse in the auction, in particular regarding their bloodlines and breeding information, and while you may not get to test ride it, you might be lucky enough to see the horses go through their paces.