Real MAST rerun results...
This 2006 GMC Sierra brought $1525 initially at auction. The very next week it brought $3400, increasing the gross return from 12.3% to 24.7%.
Sometimes getting a fair market return at auction is just a matter of making sure enough interested parties are present and bidding. The first time through auction this brought $800. The very next week it brought $2300. No brainer $1500 return increase.
Minivans aren't the most popular of consumer choices these days, but there's a market for everything, and it shouldn't always be the scrap market. Even when there's damage all over, like this one. The first time through auction brought this van a scrap price of $350. It was sold a week later to the right buyer for $2000.
This 2008 Chevrolet Cobalt (ACV $10,139.00) sustained substantial front end damage. The first time the vehicle ran through auction, it produced a high bid of $1200.00. MAST noted the northeastern market in which this vehicle was sold typically yields much higher returns for like model vehicles, and the initial bid was rejected. In the following auction, in the exact same location, this vehicle sold for $2500.
The first time this 2008 Dodge Quad Cab 3500 (ACV $37,350.00) ran through auction, it produced a high bid of $8750.00. Given the severity of the front end damage on this vehicle, a 23.4% gross return seems respectable, yet MAST noted that the demand for full size, four door cab trucks in this particular gulf coast market had been increasing. The initial $8750.00 bid was rejected by MAST. A week later, this truck was sold to an off site buyer for $12,000.00, yielding a 32.1% gross return.
Specialty pieces, like this 1995 Nitro bass boat, are typically attractive only to specialty buyers. The auction process frequently yields lesser returns simply because fewer live bidders are competing for these salvage pieces. But that does not mean that interested buyers are not interested in paying beyond their high bid at auction. At auction this boat yielded an initial return of $1700. Following the close of sale, MAST negotiated a final selling price of $2500 with the same high bidder.
This 1987 Porsche 911 Carrera is an example of a rare find for a salvage buyer. Rarer still, MAST noted, was this particular slant-nose limited production body style. When this vehicle first ran through auction, it netted a high bid of $6750.00. At the conclusion of the sale, MAST contacted the high bidder and negotiated a sale price more in line with an appropriate market return. The same high bidder was eager to raise his bid to $9000.
This 2008 Rockwood Signature Travel trailer brought an initial high bid of $8000.00 at auction. MAST contacted the insurance provider to review the physical damage extent and attempted repair of the vehicle. Because MAST repair reps are familiar with damage appraisal and repair processes we were able to communicate the exact repair issues with interested buyers. In this case a part availability issue was preventing a repair. After reviewing with the local buyer he raised his bid to $11,000.00.
MAST personnel are experienced in all types of salvage, including motorcycles, RVs, and boats. MAST reviews the physical condition and market demand for any and all of an insurance provider's inventory to determine projected returns. Initially this 2006 Harley Davidson Road King brought an auction high bid of $4600.00. MAST deemed this amount to be below the market value, and the bid was rejected. It was re-offered and later sold to an off site buyer for $5500.00.