Things you should know before going to a classic car auction
It can be thrilling, and also overwhelming when you go to a collector and classic car auction for the first time. Follow these tips to get the most out of your experience.
Pre-Register When Possible
Don’t wait until auction day to register for bidding. If you do you may spend too much of your time in line and filling out paperwork. In the USA, many of the classic car auctions allow buyers to register online in advance. This way you can dedicate you time to checking out all the cars!
Do Your Car Research In Advance of the Classic Car Auction
Most, if not all of the top car auction companies publish information about the cars that will be auctioned at the upcoming event. The usually provide photographs; the VIN/serial number; details about the engine, transmission and other parts; important historical facts prior to the auction.
And just because you love classic vehicles, you may not know what it’s like to actually own and maintain one. So before you shop, do a little research on how to maintain and care for the type of car you are interested in. Read what other owners say about the experience. This makes your decision easier to either stick with a specific car or to start looking more seriously as other makes and models prior to the auction.
Consider Car Shipping Options
Congratulations! You’ve won the bid on that collector or classic car at the auction. Now how will you get the vehicle to your home? Scott’s Auto Carrier has been shipping collector, luxury, rare, exotic and classic cars for more than 20 years. Our enclosed carrier service to and from auto auctions, car shows, trade shows, dealerships and private residences is affordable and we beat any competitor’s price.
Call Your Insurance Company for a Quote in Advance
If you know which classic car you want, it’s a good idea to call your insurance company to get a quote prior to the auction. Then if you win the car at auction, you can have it covered when the purchase is final.
Don’t Leave the Classic Car Auction Early!
If you leave before the auction is over, you could miss out on some of the best deals! It’s not always the case, but sometimes the best deals are featured at the end of the auction. Consider this your best kept secret because when others leave early, you have a better shot at winning at a lower bid.
Include the Fees in Your Budget
A budget is only as good as its accuracy so be sure to include the following fees in your classic car auction experience:
- Auction house fees (usually 10%)
- Federal, state and local taxes
- Auto transport cost
- Insurance fees
This will help you avoid sticker shock when the purchase is final. Better to be happy about owning the classic car of your dreams!
Don’t Get Too Attached
It’s fairly easy to fall in love with a particular car and simply can’t wait to get your hands on the steering wheel! But don’t get too attached because you’re not the only one going into the auction with high hopes of winning that car. Veterans of car auctions know from experience to keep their emotions in check until they’ve officially won the auction.