used to be secondary market used car auto auctions get between 1/4 to 2/3rds (high end) of the low kelly bluebook estimates of value. The difference is what the used car dealer had for a margin. Attended a secondary used car auction today. Bids were at 100 to 130% of low blue book retail prices. Asked a participant who was successfully bidding on some of these what was happening. He stated he was from florida and could achieve the required margins because of the higher prices there. Glad I was just taking a look to flip a few cars instead of investing lot of time and money up front.