Forum Discussion
Deb_and_Ed_M
Jan 03, 2015Explorer II
camperforlife wrote:
Repo'd by bank and sent to auction. Probably at one that did not allow a reserve. Highest bidder was well below value so bank bid to keep it. All the bank is out is the sales commission. Happens all the time.
I agree. Auctions are the way MANY dealers (cars in particular) get their used vehicles. Since a bank is normally not set up to show and sell an RV, they routinely run repos through auctions. Just use due diligence, that's all.
I should add that IMO, most "auctions" are actually car auctions - so it wouldn't be unheard-of for an RV to not sell; or to sell too low. Has nothing to do with "quality" - more like "takes up too much space on a car lot".
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