Private sale vs. Auction?

[jlyriq]

in the case of a repo'd car being resold, what is the difference in a private sale and an auction and is there such a thing as private auction?

[Trish]

If the sale or auction is private.......only people with a dealer's license can bid or purchase the vehicles.
A sale would just be when the company that repo'd the car puts a "reasonable" price on the vehicle in hopes that it sells. With an auction, they start out with a fairly low price and different dealer's can put bids on the vehicle.

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