08-17-2013, 02:13 AM
In NY, the law requires property to be held for certain periods of time before it can be disposed of. The greater the value of an iotem, the longer it must be held. I doubt any reasonable motor vehicles could be disposed of at auction until at least two years had passed. NOTHING is done to prep these seized vehicles for long term storage so in NY, you're really buying a pig in a poke.
A friend who works in in the auto trade told me that at reputable auctions, sellers MUST fully disclose the condition of the vehicles they offer for sale. If they fail to do so and you buy a lemon the dealer should have known about, the auction house will make good and then, go after the seller. As sellers do very well at these auctions, they operate above board so as not to be kicked out of a lucrative business..
A friend who works in in the auto trade told me that at reputable auctions, sellers MUST fully disclose the condition of the vehicles they offer for sale. If they fail to do so and you buy a lemon the dealer should have known about, the auction house will make good and then, go after the seller. As sellers do very well at these auctions, they operate above board so as not to be kicked out of a lucrative business..