The bidding process at a high-dollar auction can be filled with emotion and adrenaline, especially when it involves hundreds of thousands of dollars in luxury items.
As part of a seizure in an Alabama pill mill, numerous luxury cars were on the auction block Saturday in Austin. And for one man, that meant it was time to go bidding.
The bidding for one of those vehicles, a 1987 red BMW, started off relatively small from $32,000 to $33,000, but Kyle Lowe won the bid when it reached $37,500.
However, you won't find Lowe jumping for joy. That's because this isn't his first auction. He remembers that when an auction is going on, you can get caught up in the heat of the moment ... and you might spend a little bit more. Its what we call the "auction effect."
That effect cost Lowe a few thousand bucks a few years back.
"I mean there were a couple," Lowe recalled. "I remember doing it on a Porshe car because I'm a Porshe guy."
Not anymore.
Armed with research and a number in mind, the car dealer from Fort Worth comes to auctions prepared. But he says he can still get nervous -- especially for a car like the 2006 Saleen S7.
"You see some of the money you spend and that could make you a little queasy, but no, its fun," Lowe said.
Out of the 21 luxury vehicles the U.S. Marshals Service had on the auction block, Lowe bought three for his business and own personal collection.