Requirements for registered tow truck operators
When auctioning abandoned vehicles, you must:
- Publish a notice 3–10 days before the auction.
- If the bidding site is different than the licensed office location, post a visible sign at your office with the details of the auction location.
- Hold auctions during daylight hours on normal business days.
- Post the following at the bidding site:
- The auction procedures.
- The newspaper ad listing the vehicles for sale.
- Allow a 3-hour public viewing period before the auction.
- Hold the auction so everyone present has equal time and opportunity to bid.
- Use an open bid process, include all written bids, so everyone knows the dollar value that must be exceeded.
- If you choose to use pre-auction bid methods, written bids:
- May be submitted up to 5 days before the auction.
- Must identify the specific vehicle and bid amount.
- Record the 2 highest bids in writing.
- If the high bidder defaults, give the next bidder the right to purchase the vehicle for the amount of his or her bid.
- If you choose to bid at the auction, you must disclose the bid as such and may not use it to set a minimum for other bids.
Requirements for bidders
- All bidders must be present at the auction, unless they have submitted written bids. (The tow truck operator may choose not to allow pre-auction written bids.)
- The successful bidder must apply for a title within 15 days, unless otherwise provided by law.