Best auction Cars to resell?

[TheXir]

Having a buddy take me to my first car auction(just a reg one not classic or exotic for sure), now i've def done my own research but I'm just wondering what everyone here thoughts on getting the best value?

I'm not a dealer, just your average Joe looking for different investment ideas, and figured buying a car(s) at wholesale prices to resell at market value/retail, would be one way to turn over my $ in the short term(month-year). I recently got a settlement from an injury case and have allotted $10,000 of it for the auction. Might spend it all on one car or may buy 2 in the 3-5000 range(all expenses included obviously). So what model cars get you the most bang for your buck in this $3-10,000 range? And what should I watch out for or any tips at all really? Look forward to your responses/ideas. Thank You!

[MikeCStig]

Any other details? Do you know what cars will be up for auction? If there's a reserve on them?

[TheXir]

Nope, I was just asking in general! Are there cars that you find that are in demand that on average tend to get a better margin of return over other makes and models?

[MikeCStig]

One interesting idea wold be a police auction.
There are of course the retired police cruisers, which are usually popular with taxi companies. So there's an idea, buy a Crown Vic, (or whatever they used) fix it up, and sell it to a Cab company. The best thing about former police vehicles is even though they're driven hard, they're usually very well maintained and retired around 100-150k miles, but because of the history of hard driving, they're usually auctioned off pretty cheap.
Don't want a used cop car? They have other stuff too. Like cars that were seized as evidence in cases that are now closed, cars that were seized because they were purchased with dirty money, stuff like that. Just be careful because most car auctions are a bit of a gamble including police auctions.

[JeremyLee]

I think a simple auction will do. Last year I had been to one auction in FL. and there I saw lots of cars which were similar to your description. They are sold. but I don't know who purchased them.

[ThrillNYC]

Make sure to check and see your state law to see how many cars you can legally sell without a license. Some states its 1 a year, some are 6. And don't skimp out on your taxes or Uncle Sam will hunt you down.